Continued export demand helped to buoy corn futures on Thursday, while both soybeans and wheat posted gains as well.
The USDA this morning reported private export sales of 197,180 tonnes of 2024-25 corn to Mexico, with another 101,000 sold to unknown destinations. Those sales follow on the heels of the previous day's 1.62-million tonne sale to Mexico, the largest flash sale to that country in nearly a year. The sales signal that prices may be low enough to encourage foreign buying. December was up 2 cents at $4.06 ¾, and March added ¾ of a cent to $4.21 ¼.
Soybeans overcame early weakness on short covering. November was up 8 ¾ cents to $9.88 ¾, and January added 4 cents to $9.98.
Wheat was boosted by slightly drier forecasts for the US southern Plains, where rain is desperately needed for winter wheat germination and early development. December Chicago wheat was 4 ½ cents higher at $5.89 ½, December Kansas City was up 7 ¼ cents at $5.96, and December Minneapolis closed 8 cents higher at $6.28 ¾.
