US corn futures closed lower on Thursday on better corn planting weather in the United States and on profit-taking. CBOT July closed down 2 cents per bushel at $4.24. Funds sold 3,000 lots. Lower crude oil and the lower stock market also weighed on corn futures.
USDA said export sales of US corn last week totalled 822,000 tonnes (old-crop/new-crop), below estimates for 850,000 to 1.1 million. Drier weather improves planting conditions for the US corn and soyabean crops. Taiwan Sugar to buy US corn, soya from Toepfer. US cash corn lower at river terminals late on Wednesday amid higher barge freight but firm at interior locations. CBOT July oats down 1/2 cent at $2.38.