Corn futures closed the Thursday session with contracts 5 to 6 cents lower. The CmdtyView national average Cash Corn price was up 5 1/2 cents at $4.02 3/4. Continued strength in soybeans and meal are spilled over to corn.
The average close so far this week for December futures has been $4.57. The average close for February is used for the spring base crop insurance price, with last year at $4.70.
Weekly Export Sales data from this morning showed 1.04 MMT in corn sales in the week of 1/29. That was down 36.8% from the previous week and 29.5% below the same week last year. The top buyer was Mexico at 247,600 MT, with 246,800 MT sold to Japan and 125,800 MT sold to South Korea.
Brazil corn exports in January totaled 4.25 MMT, which was down 30.69% from the same month last year but 18.18% above the same week last year.
Mar 26 Corn closed at $4.35, up 5 1/2 cents,
Nearby Cash was $4.02 3/4, up 5 1/2 cents,
May 26 Corn closed at $4.43, up 6 cents,
Jul 26 Corn closed at $4.49 1/4, up 6 cents,
