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Corn futures increased by up to 3 cents on Tuesday, November 21, 2023, while the national average cash corn price dropped by ¾ cents to $3.87 ¼. The market will close for Thanksgiving and reopen at 8:30 CST on Friday.
Export sales for the week of October 9, 2023, were reported at 1.327 million metric tons (MMT), falling within trader expectations of 0.9-2.5 MMT but marking a four-week low and a decrease from the same week last year. The final Crop Progress report indicated that 96% of the corn crop has been harvested, slightly below the five-year average of 97%.
In global market activity, South Korean importers acquired at least 324,000 MT of corn, with approximately 68,000 MT sourced from the U.S.
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