Corn Futures Little Changed

March Corn is trading at 365 3/4, up 1/4 of a cent/bushel. May Corn is trading at 373, up 1/4 of a cent/bushel. Corn futures are trading rangebound. Chatter about southern hemisphere and the impacts of rain in some corn growing of Argentina is making the rounds. The USDA reported on Tuesday that corn export inspections as of January 12th are now 33.3 percent of the agency forecast versus the five year average of 31.7 percent. Some street estimates of Brazil' corn crop are near 94 million tonnes versus the most recent USDA estimate of 86.5 million tonnes. China's Agricultural Minister estimated that China's 2016 to 2017 corn production will be near 215.3 million tonnes down 4.0 percent from a year ago.