Corn futures are showing 9 to 10 ¼ cent gains across the front months on Monday’s midday. The national average Cash Corn price from cmdtyView is up 10 ½ cents at $3.79 3/4 per bu.
This morning’s Export Inspections report showed a total of 1.102 MMT (43.42 mbu) of corn shipped in the week that ended on September 19. That was a sharp improvement over the week prior and 55.2% larger than the same week in 2023. A bulk was shipped to Mexico, totaling 469,868 MT, with 311,415 MT headed to Columbia and 131,290 MT to Japan. A total of 2.14 MMT of corn has been shipped during the MY (84.38 mbu), which is now 5.94% above the same time last year.
Commitment of Trader data showed specs in corn futures and options adding back just 2,680 contracts to their net short position as of September 17 to 134,814 contracts. Commercials were peeling back their net short position by 5,121 contracts to 102,228 contracts.
AgRural expects the Brazilian first corn crop at 26% planted as of Thursday.
Dec 24 Corn is at $4.12, up 10 1/4 cents,
Nearby Cash is at $3.79 3/4, up 10 1/2 cents,
Mar 25 Corn is at $4.30, up 10 cents,
May 25 Corn is at $4.40 1/2, up 9 1/2 cents,
New Crop Cash is at $3.79 3/4, up 10 1/2 cents,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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