Corn futures closed on a firm note on Thursday. The March contract in Chicago gained 2.75 US cents and ended trading at 433.25 US cents/bushel. May also gained 1.50 US cents to 443.50 US cents/bushel. The later dates also trended firmer.
From a trader's perspective, export reports were the main source of support. The USDA confirmed private sales of 178,000 tons to Japan, including 154,000 tons for 2026/27 and 24,000 tons for 2027/28. In addition, weekly export sales totaled 682,804 tons. Although the volume was 29% below the previous week, it exceeded the previous year's level by 1.1%. Mexico led with 373,600 tons, ahead of Japan with 171,700 tons. Sales of the new harvest remained manageable at 11,685 tons.
The international market also remains buoyant. One South Korean importer secured 135,000 tons of maize, another tendered 210,000 tons. This demand sends a stable signal on the buyer side. There is a provisional order for 350,000 tons of feed maize from Turkey. Supported by the bullish news, the price of June corn rose by €1.25 to €192.75/t on Euronext.
