Corn futures prices have edged higher this week, with the March 2024 contract trading near $4.87 per bushel in Chicago, as traders factor in USDA export data showing increased overseas demand. Market sentiment leans bullish short-term, driven by tight South American supply and dry weather concerns in Brazil. Corn futures closed out the Friday session with contracts down 2 to 3 cents after early back and forth trade. December was down 3 cents this week. The CmdtyView national average Cash Corn price was down 2 1/4 cents at $3.76. The harvest price for crop insurance will be found this month via the average December corn close during October. The average of the first three days is $4.19. On the domestic DAP market, several buyers were still covering their previously concluded sales and were steady with prices up to $223 per tonne for spot delivery. Futures for September corn held at $5.09 as basis levels in central Iowa firmed, pointing to strong domestic feed demand. This has added confidence to the market’s short-term outlook, keeping downside risk limited.