US corn prices rose at the close of trading on Thursday. September climbed by 3.75 US cents to 401.75 US cents/bushel and December futures also rose by just over 3 US cents.
The reason for the bullish behavior was the export figures. According to the USDA, 135,000 tons of corn were sold to South Korea. The USDA caused some uncertainty here, as the deal was previously incorrectly attributed to China. A further 284,196 tons went to unknown buyers. Additional support came from purchasing activities by South Korean importers, who ordered at least 268,000 tons according to estimates - some of which presumably came from the US.
In total, the USDA reported sales of 643,060 tons of corn for the week ending 17 July - almost twice as much as in the same week last year. Mexico remained the main buyer, with Japan also active. New crop forward sales amounted to just under 734,000 tons.
Corn in Paris, on the other hand, slipped significantly on Euronext, losing €10.00 to €200.25/t for August.
