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Corn futures rose 9 to 13 cents on Thursday, closing near intraday highs. The USDA reported a 152,000 MT old-crop corn sale to undisclosed buyers and old-crop weekly export sales of 1.181 MMT, at the high end of expectations.
Census data showed April US corn exports up 28% year on year.
Strong US export sales and shipments with limited Brazilian supply until second-crop harvest reaches ports support nearby corn prices.
sorafutures.comYukiJun 7, 2024After 729 past bullish trade events, Corn moved a median +0.4% over 5 sessions (56% higher; middle half -1.1% to +1.8%), and +0.5% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
Old-crop export sales at the high end of expectations and April exports up 28% year on year point to strong demand, supporting the rally.
