Just caught some decent momentum in corn at the close yesterday. Prices pushed up 1 to 3 cents, with the national cash average hitting 4.00 and a half. Interesting to see corn finding some footing after the recent weakness. December futures have been sitting around 4.61, which is down about 9 cents year-over-year, so there's definitely some pressure on the market.

Export activity picked up a bit too. USDA reported a private sale of 178,000 MT to Japan this morning, split between 2026/27 and 2027/28 contracts. For the week of February 19th, total exports were 682,804 MT - down 29% from the prior week but still running about 1.1% ahead of last year. Mexico dominated as the top buyer with 373,600 MT, Japan took 171,700 MT, and South Korea was in the mix with multiple tenders for 135,000 and 210,000 MT. Turkey also jumped in overnight with a 350,000 MT wheat purchase.

Looking at the futures, March corn closed at 4.33 and a quarter, May at 4.43 and a half, and July at 4.51 and a quarter. Small gains across the board, but corn seems to be finding some footing here. The spring crop insurance deadline closes Friday, so that's worth watching. Export demand is there, but prices are still under pressure from the year-over-year comparison. Curious if we'll see more upside or if this is just a temporary bounce.