Corn price action is fractionally to 2 cents higher so far on Tuesday AM trade. Futures closed the Monday session with contracts 2 to 3 ¼ cents in the green. Preliminary open interest was down 1,380 contracts on Monday, with some exiting March (6,651 contracts). The CmdtyView national average Cash Corn price is up 3 1/2 cents to $4.03 1/2.
Monday morning’s Export Inspections report showed a total of 1.744 MMT (68.66 mbu) of corn shipped in the week of 12/18. That was 8.68% above the week prior and 52.07% larger than the same week last year. Mexico was as the largest buyer of 565,416 MT, with 407,179 MT shipped to South Korea, 263,793 MT to Spain and 238,707 MT to Japan. The marketing year total is now 24.27 MMT (955.36 mbu) of corn shipped in under 4 month, which is now 67.57% above the same period last year.
USDA Export Sales data from Monday morning showed sales of 1.479 MMT of corn during in the week ending on December 4. That was a 4-week low, but still 56.2% above the same week in 2024.
The USDA will release another update this morning, with analysts looking for between 0.9-1.8 MMT in corn sales during the week of 12/11.
Mar 26 Corn closed at $4.47, up 3 1/4 cents, currently up 1 1/4 cents
Nearby Cash was $4.03 1/2, up 3 1/2 cents,
May 26 Corn closed at $4.54 1/2, up 3 cents, currently up 1 1/2 cents
Jul 26 Corn closed at $4.60, up 2 1/2 cents, currently up 1 1/4 cents
