Solid export demand continues to underpin cash-corn prices. Tightening supplies, reflective of limited farmer selling, are drawing down corn inventories and forcing processors and exporters to keep a bid beneath prices. Corn supplies stored at export terminals and elevators at Louisiana Gulf ports slumped 19% in the week ended Tuesday, according to data released by the USDA. On Monday, the agency reported a 17% rise in corn inspected for export last week. Exporters at the Gulf are paying 64-71c/bushel over May CBOT futures. (andrew.johnsonjr@dowjones.com)

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(END) Dow Jones Newswires

March 13, 2012 14:40 ET (18:40 GMT)