Corn Sep '24 (ZCU24)
Corn Futures Market News and Commentary
Corn futures faded from the early session highs, but ended the Monday session with gains of 3 to 7 ¾ cents across most contracts. The CmdtyView national average Cash Corn price was up 7 3/4 cents at $4.63.
Weekly Crop Progress data showed 86% of the US corn crop in the dough stage by August 23, with 45% dented and 6% listed as mature. Condition ratings were down 3% this week at 47% in good to excellent condition, as the Brugler500 index was down 5 points to 348.
Monday’s Export Inspections report showed corn shipments at 1.296 MMT (51.03 mbu) in the week of August 20. That was down 33.32% from the week prior and 3.16% below the same week last year. Mexico was the largest destination of 387,748 MT, with 306,842 MT shipped to Japan and 101,360 MT to Colombia. The marketing year total is now 82.28 MMT (3.239 bbu) of corn exports, which is now 25.51% ahead of the same period last year with just over a week left in the marketing year.
Following last week’s Crop Tour, Pr... Read more
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