Corn South American corn premiums continue to drop, staying at -25/-30 CU for August/September. Some trades were reported at those levels, while several inquiries were made at -35 CU. Meanwhile, Upriver ports are facing bottlenecks.Most of the 3 MMT of Argentine corn export licenses were adjudicated to small trading houses and farmers and large trading houses were expected to buy more licenses; however, this was not the case. This situation has turned typical sellers into buyers, as some are running short licenses.The U.S. corn basis is on fire. North America continues to suffer from adverse weather conditions and high temperatures are affecting crop conditions, as reflected in each USDA Crop Progress report. Thus, corn premiums out of t...