Corn Mar '23 (ZCH23)
Corn Futures Market News and Commentary
Corn futures closed the Monday session with contracts 3 to 6 ¼ cents higher across most months. The CmdtyView national average Cash Corn price was up 6 1/4 cents at $4.36 1/4.
Monday’s Crop Progress report showed 76% of the US corn crop in the dough stage by August 16, with 29% dented and 4% listed as mature. Condition ratings were down 1% this week at 60% in good to excellent condition, as the Brugler500 index was down 3 points to 353.
This morning’s Export Inspections report showed corn shipments of 1.91 MMT (75.23 mbu) in the week of August 13. That was up 8.55% from the week prior and 81.71% larger than the same week last year. Mexico was the largest destination of 699,695 MT, with 499,733 MT shipped to Japan and 141,496 MT to Colombia. The marketing year total is now 80.95 MMT (3.186 bbu) of corn exports, which is now 26.05% ahead of the same period last year with just over two weeks left in the marketing year.
The ProFarmer Crop Tour begins this week, with s... Read more
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