Chicago Board of Trade corn futures closed higher Thursday on better-than-expected weekly US export data and end-of-the month position-squaring, but still fell about 8% for the month as demand for corn-based ethanol collapsed.

CBOT most-active July corn settled up 5-1/2 cents at $3.20 per bushel.

For the month, CBOT July corn fell 26 cents a bushel or 7.5%, its fourth straight monthly slide.

The US Agriculture Department (USDA) reported export sales of US old-crop corn in the week ended April 23 at 1.357 million tonnes, while new-crop sales were in line with trade estimates at 339,000 tonnes.

The International Grains Council (IGC) raised its forecast for 2020/21 global corn production to a record 1.158 billion tonnes, up marginally from 1.157 billion previously.

Ukraine's grain exports have reached a record 50.05 million tonnes so far in the 2019/20 season that began last July, up around 19% year on year, the Ministry for Development of Economy, Trade and Agriculture said.