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Corn Up 3 to 5 Cents to Erase Thursday Losses

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Overnight corn trading has the board 3 to 5 cents higher, erasing Thursday losses. Futures closed 3 1/4 to 3 3/4 cents lower yesterday. USDA data showed 1.089 MMT of corn bookings from the week ending 11/12. That was 11% higher on the week and 38% above the same week last year. Sales were near the top end of pre-report expectations, with just 130k MT previously announced to unknown. The top buyers were Mexico and Japan. China purchased 174,700 MT of corn on the week, bringing their MY commitments to a record 10.949 MMT. Chinese corn commitments are 31% of the total 35.256 MMT through week 11.

--- provided by Brugler Marketing & Management

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