Corn prices posted solid gains on Thursday, with the September futures for the new crop closing at $4.01 3/4, up 3 1/4 cents. The CmdtyView national average new crop price also rose by 3 cents to $3.78 per bushel.

The market was supported by fresh export news. The USDA reported a sale of 135,000 MT of corn to South Korea for new crop shipment, correcting its earlier announcement which mistakenly mentioned China. Additionally, 284,196 MT were sold to unknown destinations, including 83,956 MT for the 2024/25 season and 200,240 MT for 2025/26.

Weekly export sales data added momentum: in the week ending July 17, 643,060 MT of 2024/25 corn were sold — nearly twice as much as the same week last year. Mexico led purchases with 346,200 MT, followed by Japan with 72,400 MT. Total new crop commitments reached 733,939 MT, significantly higher than the previous week. The largest buyers were unknown destinations and Japan.

South Korean importers also held new tenders, purchasing an estimated 268,000 MT of corn, some of which is expected to come from the U.S.