On the US corn market, traders bought at early lows on Thursday. The December contract gained 1.75 US cents at the close of trading and was quoted at 419.75 US cents/bushel. The front month of September also gained 2.00 US cents to 399.75 US cents/bushel.
Impetus came from the ethanol sector: weekly production climbed slightly to 1.075 million barrels per day, while inventories also increased by 15,000 barrels to 22.564 million barrels. The mood also remains cautiously optimistic ahead of the USDA export report this Friday.
According to the latest Census data, 6.224 million metric tons of corn were exported in July, which is a strong result as it is up 16.8 percent year-over-year and the second highest July volume ever.
Brazil continues to dominate internationally. At almost 6.85 million tons, they exported almost three times as much in August as in July.
On Euronext, however, maize fell by €0.75 to close at €186.25 per tonne for November.
