Corn futures rose sharply at midsession, with July contracts up about 34 cents and December is 24 cents higher. Both contracts have pared most of this week’s decline.
China bought a total of 5.812 MMT of corn the week ending May 20, with 5.644 MMT of those purchases being new-crop.
Argentina's port strike came to an early end. USDA hiked its ag export forecast, reminding of China's aggressive buys and the Phase 1 trade deal. USTR Tai talked with her Chinese counterpart yesterday.
Corn futures are trying to rebound mid-morning.
Argentine port workers launched another 48-hour strike at midnight as they continue to push to be designated essential workers so they can receive Covid-19 vaccines.
FSA will invest $10 million to measure and monitor the soil carbon sequestration and other climate and environmental benefits of conservation practices over the life of CRP contracts
Corn struggled to rebound overnight. Meanwhile, another strike is underway in Argentina and China took more steps to tighten its control on commodities.
The all-items consumer price index climbed 0.8% from March to April, with the gauge of economy-wide inflation now up 4.2% from year-ago levels, according to USDA’s Economic Research Service.