Corn futures are trading nearly a dime off the overnight lows at midday, with nearby July up 2 ¼ cents and other contracts down 2 to 4 ½ cents.
The 7-day QPF shows a little clearing of precip expected in the next week in parts of the Dakotas and MN, with as much as 1-3 inches expected from IA to OH.
The weekly Export Sales report showed 435,310 MT of old crop corn export bookings in the week that ended on May 12. That was on the top end of estimates and more than double the previous week. New crop sales totaled 588,462 MT, well above the week prior. Sorghum sales were reported at a net reduction of 67,323 MT.
Jul 22 Corn is at $7.83 3/4, up 2 1/4 cents,
Nearby Cash is at $7.74 1/1, up 2 1/2 cents,
Sep 22 Corn is at $7.51, down 2 1/4 cents,
Dec 22 Corn is at $7.36 1/2, down 3 3/4 cents,
New Crop Cash is at $7.27 3/4, down 3 cents,
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