US MIDDAY: corn lower on export sales data

Corn futures at the Chicago Board of Trade fell early on Thursday, weighed by bearish weekly US export sales data and spillover weakness from soybeans, traders said. As of 10:50 am (1550 GMT), May corn was down 2-1/4 cents at $2.06 per bushel, with deferreds down 1 to 2-1/4 cents. ABN Amro sold 800 July contracts, FIMAT Futures bought 200 July and Refco net bought 100 July, traders said. The US Department of Agriculture on Thursday said 493,400 tonnes of corn (old crop) were sold for export last week, well below the range of estimates for 700,000 to 1,000,000 tonnes.
A downturn in soybean futures added to the weaker tone in the corn market. CBOT soybeans turned lower despite early strength stemming from jitters over the discovery of Asian soy rust in a soybean field in Georgia.