Corn futures are trading with contracts up 2 to 3 cents in the front months. The CmdtyView national average Cash Corn price is up 2 1/2 cents to $4.02 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.
We got another USDA Export Sales report update this morning, with sales of 1.479 MMT of corn booked in the week ending on December 4. That was on the lower end of trade estimates of 1.2-2.4 MMT. That was a 4-week low, but still 56.2% above the same week in 2024.
CFTC data as of the week ending on 12/9 was released on Friday afternoon, with spec traders in corn futures and options trimming 13,552 contracts from the net long position in that week to a net long of just 9,718 contracts.
Mar 26 Corn is at $4.46 1/4, up 2 1/2 cents,
Nearby Cash is at $4.02 1/2, up 2 1/2 cents,
May 26 Corn is at $4.53 3/4, up 2 1/4 cents,
Jul 26 Corn is at $4.59 3/4, up 2 1/4 cents,
