Corn futures at the Chicago Board of Trade were called to open 2 to 4 cents per bushel higher on Thursday, lifted by an expected rally in wheat, traders said. Weekly export sales for corn were also strong and supportive.
USDA reported weekly export sales of US corn at 1,606,400 tonnes (173,000 tonnes old-crop), above trade estimates for 700,000 to 1,200,000 tonnes. The overnight e-cbot trend for corn was up 3 cents per bushel to down 1 cent. Overnight volume was heavy at 36,799 contracts.