The biggest corn-export sales in two decades probably won’t be enough to counter record yields expected when the U.S. publishes its closely-watched monthly crop report this week according to a report at Yahoo Finance.
That’s because traders will want to see shipments take place before turning bullish on demand, said Terry Reilly, a senior commodity analyst at Futures International. Export sales are running at their highest levels since 1996, but some deals can still be canceled.
Corn prices have been in the doldrums much of this year even as China boosted purchases as part of the phase-one trade deal.
