Corn futures are trading with 2 to 3 1/4 cent losses so far at midday. The CmdtyView national average Cash Corn price is down 2 3/4 cents at $3.91 1/2. Crude oil is down $3.48/barrel, with the US dollar index up $0.586.
Monday morning’s Export Inspections report showed 1.136 MMT (44.74 mbu) of corn shipped in the week of 1/29. That was 9.88% below the week prior and 26.55% shy of the same week last year. Japan was the largest destination of 444,439 MT, with 260,227 MT shipped to Mexico and 147,478 MT to Colombia. The marketing year total is now 32.611 MMT (1.284 bbu) of corn shipped since September, which is still 49.86% above the same period last year.
