Corn Higher

Market talk of favorable Southern hemisphere weather and higher than expected corn production estimates coming out of Brazil kept sellers active on Thursday.

The USDA reported weekly corn export sales of 1.121 million tonnes versus estimates of 725,000 tonnes. Corn futures are trading higher Friday morning. March corn is trading 385 1/4, up 2 1/4 cents.

July corn is trading at 400 up 2 1/2 cents. Government data shows farmland values in the Midwest fell 3% in 2014. It was the first decline since 1986. All U.S. grain futures are closed on Monday for the President's Day holiday.

Trading in advance of the holiday is expected to be choppy.