Midday action in the corn market has futures with 5 to 7 cent gains across most front months. The EPA today issued an emergency waiver to allow sales of E15 this summer.  The waiver overrides the current policy that prohibits summer sales beginning on June 1 from retailers.

USDA reported a private export sale of 216,500 MT of corn to Mexico this morning. The sale was spilt between marketing years, with 23,000 MT for 23/24 shipment and 193,500 MT for 24/25 delivery.

The International Grains Council trimmed the world production estimate for 24/25 by 7 MMT to 1.226 million MT, citing a smaller US crop. The carryout is projected to be 291 MMT, down 6, with the 23/24 world ending stocks at 289 MMT. The BA grain exchange estimates 17% of the Argentine 2024 crop has been harvested, up only 2% from last week. 

May 24 Corn  is at $4.32 3/4, up 6 cents,

Nearby Cash   is at $4.17 5/8, up 6 1/2 cents,

Jul 24 Corn  is at $4.42, up 5 3/4 cents,

Dec 24 Corn  is at $4.65 1/4, up 5 1/4 cents,

New Crop Cash   is at $4.28 1/2, up 5 3/4 cents,