Corn Closes Lower on Monday

Corn futures were down 1 to 2 ¾ cents in most contracts on Monday, with a few deferred contracts steady. 

USDA reported separate new crop flash sales of 105,000 MT to Italy and 120,000 MT to unknown destinations via their daily reporting system this morning. 

Export Inspections data showed 555,620 MT (21.87 mbu) of corn shipped in the week that ended on August 4. That was down 38.63% from last week and a 31.94% drop from the same week last year. 

After the Monday close, NASS reported the US corn crop at 45% in the dough stage, 4% behind the 5-year average. They also tallied 6% of the crop dented, lagging the 9% average. Crop ratings slipped a bit this week, down 3% in the good and excellent categories at 58%. That took the Brugler500 index rating 7 points lower to 348, the lowest for this week since 2005 (excluding 2012). 

Sep 22 Corn  closed at $6.08 1/2, down 1 3/4 cents,

Nearby Cash   was $6.82 1/4, down 2 7/8 cents,

Dec 22 Corn  closed at $6.07 1/4, down 2 3/4 cents,

Mar 23 Corn  closed at $6.15 1/4, down 2 3/4 cents,

New Crop Cash   was $5.72, down 2 1/2 cents,