The corn market saw Thursday gains across most contracts, with new crop months up 2 to 4 cents and July down ¼ cent. The CmdtyView national average cash corn price stands at $4.14, down 1/4 cent.
The weekly Export Sales report revealed 942,276 MT of old crop corn sold for the week ending May 29, which is within the trade estimates of 775,000 to 1.4 MMT but down 20.2% from last year. Major buyers included Mexico (362,300 MT), Japan (13,500 MT), and South Korea (138,600 MT). New crop sales totaled 160,116 MT, against expectations of 20,000 to 250,000 MT.
Monthly Census data indicated that 7.78 MMT of corn was shipped in April, reflecting a 6.08% increase from March and a 21.06% rise from last year. Additionally, South Korean importers purchased 326,000 MT of corn in recent private tenders.
