Corn futures are up 5 to 6 cents at midday, holding the overnight gains for the most part. There were 223 contracts put out against May futures delivery overnight, all stopped by ADMIS customers. The oldest long is now dated 2/28/24. 

The weekly Export Sales report showed 758,466 MT in corn bookings during the week ending on April 25. That was down 41.7% from last week and on the low side of estimates. Japan was the top buyer of 267,400 MT, with 190,800 MT sold to Mexico. New crop sales were just 33,658 MT in that week. 

Monthly export data from Census showed 5.89 MMT (232 mbu) of corn shipped during March. That was a 19.78% increase on the same month last year and the largest monthly total since last May. Distillers exports were 1.055 MMT in March, a 10-year high, with ethanol shipments at 159.3 million gallons, the largest in 4 years. 

USDA Monthly Grain Crushings data showed 468.75 mbu of corn used for ethanol production during March. That was a 7.48% jump from last year, the largest March total since 2018, and 5.2% above February.

May 24 Corn is at $4.48 3/4, up 5 1/2 cents,

Nearby Cash is at $4.35 3/4, up 5 5/8 cents,

Jul 24 Corn is at $4.56 1/2, up 5 3/4 cents,

Dec 24 Corn is at $4.78, up 5 1/4 cents,

New Crop Cash is at $4.41 1/4, up 5 cents,