Corn held its ground through Friday with gains across most contract months, though March took a hit earlier in the week. The cash corn market was looking solid at $3.94 1/4, up about 1 3/4 cents. Wheat strength seemed to be giving corn a hand too. What's interesting is the export picture staying pretty robust. Old crop corn sales hit 1.47 million metric tons for the week ending February 12, which was down from the prior week but still running 1.1% ahead of the same period last year. Japan came in as the biggest buyer grabbing 381,500 MT, with Mexico taking 270,100 MT and Taiwan picking up 127,300 MT. New crop sales came in at around 65,700 MT that week. On the positioning side, spec funds trimmed their net long by about 20,795 contracts, flipping to a net short of 27,415. A South Korean importer also scooped up 132,000 MT in an overnight tender. Looking at the contract closes, March corn finished at $4.27 1/2 up 1 3/4 cents, May was at $4.39 3/4 up 3 1/2 cents, and July climbed to $4.48 1/4 up 3 3/4 cents. The crop insurance price discovery window is wrapping up soon and December corn prices news has been averaging $4.60 for the period, down about a dime from last year. Corn prices have been benefiting from solid export demand and the market seems to be finding support here.

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