Corn Dec '22 (ZCZ22)

Corn futures were under pressure across the board on Tuesday with contracts down 1 ¼ to 5 ¾ cents at the close. The CmdtyView national average Cash Corn price was down 5 3/4 cents to $4.18 3/4. Losses in crude oil were a pressure factor.

Export Inspections data showed 1.582 MT (62.27 mbu) of corn shipped in the week that ended on May 21. That was up 11.43% from last week and 13.01% higher than the same week last year. Mexico was the top destination of 406,078 MT, with 274,937 MT to Japan and 260,620 MT to South Korea. Marketing year shipments have totaled 60.18 MMT (2.369 bbu), which is up 28.03% yr/yr.

NASS Crop Progress data showed the US corn crop at 86% planted as of Sunday, which was 3% ahead of the 5-year average pace of 83%. The crop was also 60% emerged, which is 2 percentage points faster than normal. Condition ratings will start being reported next week.

Jul 26 Corn  closed at $4.57 1/2, down 5 3/4 cents,

Nearby Cash  was $4.18 3/4, down 5 3/4 cents... Read more