Old crop corn posted gains of as much as 5 1/4 cents on Thursday. New crop futures rallied 1 1/4 to 1 1/2 cents. New crop Dec closed at a 17 1/2 cent discount to nearby March. That discount was 24 1/2 cents at the market high on 11/30. Corn export bookings were above expectations with 1.924 MMT sold in the week ending 12/10. That was the 4^th largest weekly sale for the MY and was 12.6% higher yr/yr. Of that total, 601,513 MT for Mexico were previously known via daily announcements. Mexico and China were the top purchasers on the week, with Japan and Taiwan also buying +100k MT. Japan also booked 10,033 MT of corn for 2020/21. BAGE reported national corn planting in Argentina was 55.4% completed, down from the 5-yr average of 61.2%. They indicated 4.8% of the crop was silking, which is below the 15% average.

--- provided by Brugler Marketing & Management