Corn Jul '15 (ZCN15)

Corn futures are down 3 to 4 cents across most contracts on Monday, with March down 6 cents. There were 448 deliveries issued on Friday night. The CmdtyView national average Cash Corn price was up 3 3/4 cents to $4.03 3/4. 

Export Inspections data showed corn shipments at 1.858 MT (73.17 mbu) shipped in the week that ended on February 26. That was down 8% from last week, but still the 3rd largest this year and up 37.41% from the same week last year. Mexico was the top destination of 521,921 MT, with 269,686 MT to South Korea and 221,965 MT to Japan. Marketing year shipments have totaled 39.619 MMT (1.56 mbu), which is up 42.29% yr/yr.

Commitment of Traders data tallied managed money cutting another 13,548 contracts from their net short position in the week ending on 2/24, taking it to 13,867 contracts.

Brazil’s first crop corn harvest is now 36% complete according to AgRural, shy of the 46% pace from last year. The second crop is 66% planted in the center-south reg... Read more