Corn futures prices held firm at $4

Corn futures prices held firm at $4.95 in overnight trading, as speculative buying intensified following signs of reduced farmer selling in the Midwest. This tightening of cash market supply could underpin futures action in the coming sessions. Mar 26 Corn  closed at $4.35 3/4, down 2 1/4 cents, “Adding insult to injury, McCormick says very little new crop corn has been priced,” Rook reported. “‘Roughly 5% of this crop is sold, we estimate, which means you got about 15 billion bushels of unpriced corn and that is gonna probably be a drag on the market as we get into harvest.'” In midweek trade, corn futures prices for September held at $5.10, with traders factoring in lower Brazilian port throughput, raising concerns about timely deliveries to Asia.