Corn price action at Thursday’s midday is mixed, with nearby contracts up 1 to 3 cents and new crop December down 1 ¼ cents. CmdtyView’s national average Cash Corn price is up 3 1/4 cents at $4.59 1/4. 

This morning’s Export Sales report showed a total of 1.649 MMT of corn sold for 2024/25 shipment in the week ending on 2/6, near the top end of the 0.8-1.7 MMT estimates. That was up 11.6% from last week and a 3-week high. Japan was the largest buyer of 459,400 MT, with 325,400 MT sold to Japan and 262,600 MT to Mexico.  New crop sales were tallied at 350,096 MMT in the middle of the expected 0-500,000 MT. Much of that was to Mexico, which was previously known about. 

CONAB data from this morning showed a 2.5 MMT hike to their 2025 production estimate at 122.01 MMT, vs. the USDA at 126 MMT. Much of that increase came from a larger second crop, up 1.4 MMT to 94.63 MMT on increased acreage, with the first crop up 1.04 MMT to 22.53 MMT. The Rosario Grains Exchange pegged Argentina’s corn output total at 46 MMT on Wednesday, a 2 MMT drop from their previous estimate. 

Mar 25 Corn is at $4.93 1/4, up 3 cents,

Nearby Cash is at $4.59 1/4, up 3 1/4 cents,

May 25 Corn is at $5.05 3/4, up 1 3/4 cents,

Dec 25 Corn is at $4.72 1/4, down 1 1/4 cents,

New Crop Cash is at $4.40 1/2, down 1/4 cent,