Corn Recovers on Thursday
At the close on Thursday corn prices were 1 to 3 cents higher. USDA announced a private export sale of 336,500 MT of 20/21 corn to unknown destinations via the daily reporting system. Due to the Monday holiday, USDA weekly Export Sales was pushed back to Friday. Estimates are looking for 0.6 to 1.2 MMT of corn bookings. EIA data is also set for a Friday release, after a federal holiday for the inauguration. The national average cash corn price from cmdtyView was $4.99/bu. Acreage estimates are beginning to surface ahead of the new crop planting cycle. IHS Markit raised their forecast for corn by 3.1m acres from the December forecast to 94.2m.
| Mar 21 Corn closed at $5.24 1/4, up 2 1/4 cents, |
| May 21 Corn closed at $5.26 1/4, up 2 1/4 cents, |
| Jul 21 Corn closed at $5.22 1/4, up 3 cents, |
| Sep 21 Corn closed at $4.72 3/4, up 1 cent, |
--- provided by Brugler Marketing & Management
