The corn market failed to get much buying out of an export sale this morning, with contracts closing 1 ¼ to 3 ¼ cents lower. The national average Cash Corn price from cmdtyView was down 1 ¾ cents at $4.14 ½.
The USDA reported a private export sale of 170,400 MT of corn to Mexico this morning for 2024/25 shipment.
A US government funding bill is expected to have a plan to allow E15 sales year around, shifting from the sales being blocked in the summer months.
ANEC estimates December Brazil corn exports at 4.1 MMT, which was a 0.13 MMT hike from their previous estimate. A South Korean importer purchased a total of 66,000 MT of corn in a tender overnight.
Mar 25 Corn closed at $4.43 1/2, down 1 1/2 cents,
Nearby Cash was $4.14 1/2, down 1 3/4 cents,
May 25 Corn closed at $4.50, down 1 3/4 cents,
Jul 25 Corn closed at $4.53 1/4, down 1 3/4 cents,
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