Corn futures are trading with contracts up 4 to 5 ½ cents on Monday. The CmdtyView national average Cash Corn price is down 5 cents at $4.25 3/4.
Monday morning’s Export Inspections report showed 1.644 MMT (64.73 mbu) of corn shipped in the week of 4/23. That was 1.33% below the same week last year and a 5.67% drop from last week. Mexico was the largest destination of 388,791 MT, with 234,765 MT shipped to Colombia and 196,816 MT to South Korea. The marketing year total is now 53.441 MMT (2.104 bbu) of corn shipped since September 1, which is 30.64% above the same period last year.
Crop Progress data will be released this afternoon, with a Reuters survey of analysts looking for corn to be near 23% planted as of Sunday.
Commitment of Traders data showed spec funds with a total of 24,923 contracts added back to their net long position in the week ending on April 21. That took their net long to 184,406 contracts.
A South Korean importer purchased 65,000 MT of wheat in a private deal late on Friday.
May 26 Corn is at $4.60, up 5 cents,
Nearby Cash is at $4.25 3/4, up 5 cents,
Jul 26 Corn is at $4.69, up 5 1/2 cents,
Dec 26 Corn is at $4.88 3/4, up 4 1/2 cents,
New Crop Cash is at $4.46 3/4, up 4 3/4 cents,
