Corn futures are trading with contracts fractionally to 2 cents higher on Monday. The CmdtyView national average Cash Corn price is up 2 1/4 cents at $3.83 1/4. Crude oil is down $4.27 at midday, and provided early pressure after the US and Iran came to a peace deal over the weekend.
The weekly Export Inspections report showed corn shipments of 1.636 MMT (64.43 mbu) in the week of 6/11. That was down 18.73% from the week prior and 3.47% below the same week last year. Mexico was the largest destination of 440,116 MT, with 225,898 MT shipped to Japan and 153,375 MT to Taiwan. Shipments for the marketing year are now at 65.614 MMT (2.583 bbu) of corn, which is 26.01% above the same period last year. Sorghum shipments totaled 313,616 MT, with 313,002 MT headed to China.
