Corn prices saw a minor uptick on March 26, 2023, with the nearby cash corn price rising by 2.5 cents to $4.00 1/2 per bushel. The March corn futures closed at $4.33 1/4, up 2 3/4 cents, while the May and July futures increased to $4.43 1/2 and $4.51 1/4, rising by 1.5 and 1 cent respectively.
The USDA reported a private export sale of 178,000 metric tons (MT) of corn to Japan, consisting of 154,000 MT for the 2026/27 marketing year and 24,000 MT for 2027/28. Additionally, the Export Sales data for the week of February 19 indicated a total of 682,804 MT sold, a 29% decrease from the previous week, yet still 1.1% above the same week last year, with Mexico being the top buyer at 373,600 MT.
In further developments, a South Korean importer purchased 135,000 MT of corn in a tender, while another issued a tender for 210,000 MT. Turkey also acquired 350,000 MT of wheat overnight.
