John Heinberg at Total Farm Marketing said, “U.S. corn export demand remains strong, with total exports still running 25% ahead of last year. However, Thursday’s weaker export sales report raised concerns as competition from freshly harvested South American supplies continues to increase. Managed Money positioning will still likely reflect an extremely large, long position on this week’s Commitment of Trader’s Report. The weekly report is compiled from positioning from the close on Tuesday. Since Tuesday, funds have been liquidating long positions, and the July corn market has lost nearly 30 cents off the Wednesday high of 484.”