Choppy, pre-holiday trade continued on Friday, as traders close positions and get out of town for the Memorial Day weekend. Corn was showing the best form, posting modest gains. The trade ignored a mistake by USDA in announcing a sale of old crop corn. The government originally listed the buyer as China, which has taken very little corn from the U.S. this year. The deal was then changed to “unknown destinations,” reinforcing ideas demand is strengthening due to the smaller crop in Brazil.
Bryce Knorr of Farm Futures reporting. Farm Futures is a sister publication of Feedstuffs.