USDA reported export inspections of US corn in the latest week at 30.335 million bushels, above trade estimates for 26 million to 29 million. USDA confirmed sales of 116,000 tonnes US corn to unknown destinations for 2009/10. South Korea's Nonghyup buys corn, halves purchase amount.
Improved weather for harvest of the final acreage of the 2009 US corn crop but the coming weekend may bring some heavier precipitation. US cash corn bids firm in eastern Midwest but weak along Illinois River early on Tuesday. CFTC supplement showed funds expanded their net long position in corn to 185,538 contracts in the week ended January 12, up 2,400 lots. CBOT March oats down 5 at $2.26.