Corn futures ended higher on Friday, getting a lift from export demand. Soybeans closed with gains as well, with wheat little changed.
Corn moved higher as the USDA reported a private export sale of 148,240 tonnes of corn to unknown destination this morning, with 78,240 for old crop and 70,000 for new crop. On the other hand, the U.S. House of Representatives passed its version of the farm bill on Thursday without language that would allow E15 sales year around. The bill now moves onto the Senate, with any E15 legislation pushed back to a separate vote sometime in May. July corn was up 5 ½ cents at $4.80 ¼, and December gained 4 ½ cents to $4.98 ¾.
Soybean futures moved higher on strength in soybean oil – even as crude oil declined - with the nearby July contract settling above the $12/bu mark for the first time since March. July beans added 7 ¾ cents to $12.03 ¼, and November gained 9 ¾ cents to $11.82 ¾.
Wheat was mixed amid weakness in crude but continued weather-related concerns for the U.S. winter wheat crop. July Chicago and Kansas City were both up 1 cent at $6.37 ¾, and $6.94 ½, respectively. July Hard Red Spring inched a ½ cent higher to $7.07 ½, and July Minneapolis eased 1 ¾ cents to $7.04.
