US Raises American Corn Exports With No Tariff Interruption Yet

Corn futures held earlier gains Thursday after the US Department of Agriculture raised its outlook for American exports to reflect a rapid pace of grain shipments and a tariff reprieve for top importer Mexico.

The agency boosted its corn export forecast by 100 million bushels with US prices “relatively competitive” on the world market, USDA said in its monthly supply and demand outlook. The hike meant end-of-season US corn stocks will fall to 1.465 billion bushels, below estimates in a Bloomberg survey of analysts for 1.512 billion.

Fluid developments on the tariff front also point to further adjustments and gyrations ...