Corn futures closed Thursday’s session with contracts 5 to 6 cents lower. Meanwhile, the CmdtyView national average cash corn price rose by 5½ cents, reaching $4.02¾. Continued strength in soybeans and meal has spilled over to corn, supporting prices.

The average close for December futures so far this week has been $4.57. For spring base crop insurance, the February futures average close is used, which was $4.70 last year.

Weekly export sales data released this morning showed 1.04 million metric tons (MMT) in corn sales for the week ending January 29. This figure was down 36.8% from the previous week and 29.5% below the same week last year. The top buyer was Mexico, purchasing 247,600 metric tons, followed closely by Japan at 246,800 metric tons and South Korea at 125,800 metric tons.

In January, Brazil’s corn exports totaled 4.25 MMT, marking a 30.69% decrease compared to the same month last year but an 18.18% increase over the same week last year.

March 26 corn futures closed at $4.35, up 5½ cents; nearby cash corn was $4.02¾, also up 5½ cents. May 26 corn closed at $4.43, up 6 cents, and July 26 corn closed at $4.49¼, up 6 cents.

Please note: On the date of publication, Austin Schroeder did not hold positions—either directly or indirectly—in any of the securities mentioned in this article. All information provided is for informational purposes only. For more details, please view the [Barchart Disclosure Policy](https://www.barchart.com/disclosure).

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https://www.nasdaq.com/articles/corn-posts-thursday-gains