Corn futures saw contracts close steady to fractionally higher gains across most contracts on Monday. The CmdtyView national average Cash Corn price was unchanged to $3.94 1/2.
USDA reported a private export sale of 125,000 MT of corn to Colombia this morning.
Monday morning’s Export Inspections report showed 2.05 MMT (79.94 mbu) of corn shipped in the week of 2/19. That was the second largest total for the marketing year, 33.26% above the week prior and 71.91% above the same week last year. Japan was the largest destination of 445,467 MT, with 416,671 MT shipped to Mexico and 404,881 MT to South Korea. The marketing year total is now 37.745 MMT (1.486 bbu) of corn shipped since September 1, which is 45.64% larger than the same period last year.
Brazil’s first corn crop is estimated at 28% harvested according to AgRural, behind the 37% average pace. The second crop was tallied at 50% planted by Thursday, lagging the 64% average pace.
Mar 26 Corn closed at $4.27 1/2, unch,
Nearby Cash was $3.94 1/2, up 0 cent,
May 26 Corn closed at $4.40 1/4, up 1/2 cent,
Jul 26 Corn closed at $4.48 3/4, up 1/2 cent,
