Corn futures are battling back from the early weakness on Monday, with contracts 1 to 3 cents higher at midday. The CmdtyView national average Cash Corn price is up 2 1/4 at $3.75 ¼.
This morning’s Export Inspections report showed a total of 1.443 MMT (56.8 mbu) of corn shipped in the week of 9/4, with 649,501 MT for the current MY and 793,409 MT to round out the old. That was up 2.35% above the week prior and 69.8% larger than same week last year. Mexico was the largest buyer of 573,410 MT, with 269,384 MT shipped to Japan and 222,905 MT to Colombia. The 2024/25 marketing year saw 67.76 MMT shipped according to FAS data though actual Census data was 66.13 MMT through July, not including the 6.115 MMT that inspections data reported during August
Don’t Miss a Day: From crude oil to coffee, sign up free for Barchart’s best-in-class commodity analysis.
The CFTC Commitment of Traders report showed spec traders trimming 19,199 contracts from their net short position in corn futures and options as of September 2nd. By Tuesday, their net short stood at 91,487 contracts.
Ukraine corn production for 2025 is pegs at 30.3 MMT according to APK-Inform, which is up from the 27.5 MMT prior estimate. AgRural estimates the Brazilian first corn crop at 12% planted as of last Thursday.
Sep 25 Corn is at $4.02, up 3 cents,
Nearby Cash is at $3.75 1/4, up 2 1/4 cents,
Dec 25 Corn is at $4.20, up 2 cents,
Mar 26 Corn is at $4.38 1/4, up 1 3/4 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.
More news from Barchart
- Big Corn, Soybean Harvests Are Hanging Over Grain Futures Markets
- Can Soybean Prices Recover?
- How Much Lower Will Soybeans Go?
- Corn, Soybean, Wheat, Cotton: Let’s Break Down What You Need to Be Watching This Week
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
