Corn trading starts the last trade day of the week 1 to 2 cents higher. At Thursday’s closing bell, front month corn futures were fractionally to 3 1/2 cents higher. The US national average cash corn price is at a 6 month high. Net corn export sales bookings from the week ending 9/10 were 1.61 MMT (63.4 mbu). That was the high end of trade estimates. Export shipments were 35 mbu, which has accumulated shipments through the first 10 days at 45.18 mbu. That is 32% higher yr/yr, and the fastest start since the 18/19 MY. New crop corn commitments are at 805.321 mbu, which is the largest start to the MY on record. Accumulated commitments are 35% of USDA’s forecasted total, compared to the 5-yr average of 25% for this date. The weekly Export Sales report also showed 121,543 MT of milo business. In a posted announcement, Chinese officials posted a notice that they will not raise the corn import TRQ, which is at 7.2 MMT for 2021. Imports outside the TRQ face a 65% tariff, but there is also precedent for later special quotas that are exempt. --- provided by Brugler Marketing & Management