US Corn futures were mixed on Wednesday. May futures were 3 3/4 cents lower at $7.63. The July contract closed 3 1/4 cents lower at $7.70 1/2. December was 3/4 cents higher at $6.47 1/2.
Futures opened the day session slightly lower and continued to experience mild selling pressure through the rest of the trading session although a late rally trimmed losses.
USDA reported another 4 million bushel corn sale to an unknown destination for delivery in the 2011/12 crop year. This follows a similar sale reported Tuesday. News that Russia may have an additional 7 million to 8 million tonnes of additional grain for export was one reason for the weakness in the nearby futures.
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