Corn prices are steady to 1 ¼ cents higher on Tuesday morning. Futures were disappointed in a 2 year low in export shipments, as contracts were down 1 ¼ to 7 ¼ cents across the board. Open interest was down 10,794 contracts, suggesting the long liquidation was continuing on Monday. The CmdtyView national average Cash Corn price was 7 1/4 lower cents at $4.27 1/4.
Late on Tuesday, the White House announced a Harvest Fuel Relief Program, providing producers with $8 billion in assistance due to high fuel prices.
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USDA’s Export Inspections report tallied corn export shipments at just 672,475 MT (26.47 mbu) during the week ending on October 15. That was down 48.81% from the week prior, 49.25% below the same week last year and the lowest shipment total since the week of October 10, 2024. Mexico was the top destination of 305,517 MT, with 205,468 MT headed to Colombia. Marketing year exports for 2026/27 are 9.131 MMT (359.5 mbu), which is now 2.29% below the same period last year.
The Monday Crop Progress report showed 44% of the US corn harvest complete as of October 18, with 8 percentage points behind the average pace. Condition ratings were steady this week at 56% in good to excellent condition, with the Brugler500 index a single point higher at 347.
AgRural estimates the Brazilian corn crop in the Center-South region at 48% planted, lagging the 51% pace from last year.
Dec 26 Corn closed at $4.67, down 7 1/4 cents, currently up ¼ cent
Nearby Cash was $4.27 1/4, down 7 1/4 cents,
Mar 27 Corn closed at $4.80 1/2, down 6 cents, currently up 1 ¼ cents
May 27 Corn closed at $4.88 1/2, down 5 cents, currently up 1 ¼ 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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