Corn futures are pushing lower at midday despite an initial surge higher at the 8:30 am CDT morning open. They are currently down 2 to 4 cents across most front months on Thursday.

USDA’s Export Sales report showed a 54% uptick in sales during the week that ended on April 11 to 501,166 MT. That was un the middle of the 300,000 MT to 900,000 MT estimates. Columbia was the top buyer of 273,700 MT. New crop bookings were tallied at 65,000 MT, vs. the trade expectations of 0-100,000 MT. 

The US ag attaché for Argentina reduced the unofficial corn production for that country to 51 MMT from 57 MMT back in January. Disease pressure is blamed. The attaché also expects 2024/25 production to be smaller because of more acreage switching to soybeans. 

May 24 Corn  is at $4.28, down 2 1/4 cents,

Nearby Cash   is at $4.11 3/8, down 2 1/8 cents,

Jul 24 Corn  is at $4.37 1/4, down 3 3/4 cents,

Dec 24 Corn  is at $4.60 3/4, down 4 cents,

New Crop Cash   is at $4.24 1/2, down 4 cents,