Corn

“The corn market broke a three-day lower price streak as the market pulled out minimal gains on the session. The spread between September and December had grown wide, and the market saw some profit taking on that spread, which supported the front end of the corn market,” Total Farm Marketing said. “Demand for new-crop U.S. corn has improved in recent weeks. Rising Brazilian corn prices — despite a record harvest — have made U.S. corn more competitive on the export market. Thursday’s export sales report is expected to reflect strong new-crop activity.”

“Price action for December corn has been rather balanced in the month of August in recent history, since 2020 it has been higher three years while lower in two years. This followed six consecutive years where prices were lower for the month,” Mark Soderberg of ADM Investor Services said. “Export sales Thursday are expected to range from 32-90 mln. bu. for both old and new crop MY’s.”