Corn prices moved down 1.4.

Traders note that cash sales have been steady all week but volume is still rather sluggish. Export sales were positive for price direction but old crop sales were average at best.

The Argentina government kept their 12/13 production outlook unchanged at 25.7 million tonnes. Taiwan bought 60,000 tonnes of corn from Brazil overnight for August 1-15 shipment. An Israeli private buyer purchased 75,000 tonnes and was thought to be South American origin for June-September shipment.

The forecast looks non-threatening for the corn market with really no change in the rainfall outlook.