Corn futures failed to hold the slight midday gains into the close on Thursday, with loses of fractionally to 2 cents. May was back down 8 cents this week, as December was up 2 ½ cents. The front month CmdtyView national average Cash Corn price was down 1 ¾ cents at $4.55 1/2. The markets will be off on Friday for Good Friday, with a normal open on Sunday night. 

Export Sales data was released this morning, showing 1.562 MMT in the week ending on 4/10. That was nearly double the week prior and well above the same week last year. Mexico was the top buyer of 401,500 MT with Japan in for 263,300 MT and 240,000 MT sold to Spain. New crop totaled just 10,000 MT.

Brazil’s CONAB estimates the country’s ethanol production at 37.19 billion liters, up from their prior 36.08 billion gallon estimate. Sugarcane, which is a large portion of the ethanol feedstock is expected to take up 29.35 billion gallons of that production total.

The Buenos Aires Grains Exchange estimated the Argentina corn crop at 28% harvested, which is above the 20% average pace for this week.

This month’s update to the International Grains Council report showed world corn production for 2024/25 up 2 MMT from last month, as consumption was raised by 1 MMT. That caused stocks to be up 1 MMT to 276 MMT. For the 2025/26 crop, output was up 5 MMT and consumption increased by 6 MMT. The stocks projection for new crop was up 1 to 281 MMT.

May 25 Corn  closed at $4.82 1/4, down 2 cents,

Nearby Cash  was $4.55 1/2, down 1 3/4 cents,

Jul 25 Corn  closed at $4.90 1/4, down 1 1/2 cents,

Dec 25 Corn  closed at $4.66, down 3/4 cent,

New Crop Cash  was $4.30 3/8, down 1/4 cent,