Corn Futures Little Lower

May Corn is trading at 378, down 1 1/2 cents/bushel. July Corn is trading at 384 1/2, down 1 3/4 cents/bushel. Corn futures are trading rangebound and a little lower on the day. Street estimates for Brazil's corn production are now around 91 million tonnes versus the USDA February estimate of 86.50 million The Buenos Aires Grains exchange left Argentina's corn production at 37.0 million tonnes and said harvested corn so far has better than expected yields. The Mexican parliament is considering a rule that would inhibit imports of U.S. corn in favor of corn from Argentina and Brazil. The USDA reported on Thursday that corn export sales as of February 23rd are now 76.8 percent of the agency forecast versus the five year average of 72.7 percent.