Corn futures posted higher trade at Monday’s close with contracts fractionally higher in the nearbys. The CmdtyView national average Cash Corn price was a penny higher at $3.81 1/2. With less than 2 weeks left for the harvest price discovery for crop insurance, the average close has been $4.19 for December corn futures.
This morning’s Export Inspections report showed a total of 1.317 MMT (51.877 mbu) of corn shipped in the week of 10/16. That was 8.9% above the week prior and up 31.62% from the same week last year. Mexico was the largest buyer of 443,141 MT, with 207,621 MT shipped to Japan and 201,101 MT to Spain. The marketing year total is now at 9.338 MMT (367.63 mbu) of corn shipped, which is now 60.61% above the same period last year.
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Over the weekend, President Trump threatened to cut off some aid and increase tariffs for Colombia to in response to drug flow from the country. No response from Colombia was noted, though they are a top 4 buyer of US corn.
Brazil’s first corn crop was estimated at 51% planted in the south center region according to AgRural. That is slightly ahead of the 48% pace last year.
Dec 25 Corn closed at $4.23 1/4, up 3/4 cent,
Nearby Cash was $3.81 1/2, up 1 cent,
Mar 26 Corn closed at $4.37, up 1/2 cent,
May 26 Corn closed at $4.45 1/4, up 1/4 cent,
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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