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 some in the trade watching to see some yield results from boots on the ground. The tour will cover South Dakota and Ohio today, as well as parts of Indiana and Nebraska.
AgRural estimates the Brazilian second corn crop at 85% harvested, which is still lagging the 94% average pace from last year.
Sep 26 Corn closed at $4.65, up 6 cents,
Nearby Cash was $4.36 1/4, up 6 1/4 cents,
Dec 26 Corn closed at $4.89 1/2, up 6 1/4 cents,
Mar 27 Corn closed at $5.05 1/4, up 6 1/4 cents,
New Crop Cash was $4.40 3/8, up 6 1/4 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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