Corn futures are trading with 7 to 8 cent gains across most contracts on Monday so far, shrugging off early weakness. The CmdtyView national average Cash Corn price is up 9 cents at $4.19 1/4.
Monday morning’s Export Inspections report showed corn shipments of 1.885 MMT (74.2 mbu) in the week of 7/30. That was up 22.92% from the week prior and 45.44% above the same week last year. Mexico was the largest destination of 490,997 MT, with 351,654 MT shipped to South Korea and 271,599 MT to Colombia. The marketing year total is now 77.27 MMT (3.04 bbu) of export, which is now 25.35% ahead of the same period last year with just a month left in the marketing year.
