Commodities
Corn Futures Surge Amid Strong Demand
Corn futures are on an upward trend, with prices increasing by 3 to 4.25 cents in Thursday's session. The CmdtyView national average Cash Corn price has risen by 3.75 cents to $4.35.25.
According to the USDA's Export Sales data for the week of July 16, old crop corn sales came in at 332,679 metric tons (MT), below estimates but higher than the previous week and nearly half of last year's sales. New crop sales were stronger at 701,505 MT, above the estimated range.
Other agricultural markets are also moving, with soybeans gaining 7 to 8.5 cents on Thursday morning. The August contract in soybeans has reached its highest level since May 2024, trading at $12.38.