Corn futures posted 12 to 13 1/4 cent losses in the nearbys on Monday. Pressure is coming from beans and crude oil slipping $4.49. The CmdtyView national average Cash Corn price was down 13 cents to $4.11 1/2.
Monday morning’s Export Inspections report showed 1.658 MMT (65.3 mbu) of corn shipped in the week of 3/12. That was 1.98% below the week prior but 8.95% above the same week last year. Mexico was the largest destination of 446,121 MT, with 281,957 MT shipped to Japan and 150,849 MT to Colombia. The marketing year total is now 42.869 MMT (1.688 bbu) of corn shipped since September 1, which is 39.16% above the same period last year. China was the sole destination for 127,639 MT of sorghum.
AgRural estimate the Brazilian first corn crop at 50% harvested by Thursday, lagging the 72% pace last year. The second crop corn was at 91% planted, behind the 97% pace a year ago.
May 26 Corn closed at $4.54, down 13 1/4 cents,
Nearby Cash was $4.11 1/2, down 13 cents,
Jul 26 Corn closed at $4.65 3/4, down 12 1/2 cents,
Sep 26 Corn closed at $4.67 1/4, down 12 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. This article was originally published on Barchart.com
