The corn market continues its muted weaker trade as values will need help from corn or beans to stage a comeback. However, end users have been willing buyers of CZ at the $3.60 level, which could help values try to stabilize. Weekly export sales totaled 618,000 tonnes, hitting the high end of estimates ranging 450-650k tonnes with an unknown and
Mexico accounting for 347k tonnes. South American weather forecasts show good moisture chances for the bulk of the
growing regions in both Brazil and Argentina over the next week. USDA announced a milo sale of 116,000 tonnes to an
unknown destination. CZ made a new contract low after Tuesday’s report, but has rebounded nicely and the $3.56 level will now be critical support and if broken could lead to a move back to $3.46.
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