Corn futures are trading with Monday gains of 4 to 5 ½ cents so far. The CmdtyView national average Cash Corn price is up 5 cents at $4.35.
This morning’s Export Inspections report showed corn shipments of 1.91 MMT (75.23 mbu) in the week of August 13. That was up 8.55% from the week prior and 81.71% larger than the same week last year. Mexico was the largest destination of 699,695 MT, with 499,733 MT shipped to Japan and 141,496 MT to Colombia. The marketing year total is now 80.95 MMT (3.186 bbu) of corn exports, which is now 26.05% ahead of the same period last year with just over two weeks left in the marketing year.
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The ProFarmer Crop Tour begins this week, with some in the trade watching to see some yield results from boots on the ground. The tour will cover South Dakota and Ohio today, as well as parts of Indiana and Nebraska.
Weekly CFTC data tallied managed money spec traders in corn futures and options at a net long of 166,770 contracts by 8/11. That was a 15,176 contracts reduction on the week, mainly coming from new short interest.
AgRural estimates the Brazilian second corn crop at 85% harvested, which is still lagging the 94% average pace from last year.
Sep 26 Corn is at $4.63 3/4, up 4 3/4 cents,
Nearby Cash is at $4.35 1/1, up 5 cents,
Dec 26 Corn is at $4.88 1/2, up 5 1/4 cents,
Mar 27 Corn is at $5.04 1/4, up 5 1/4 cents,
New Crop Cash is at $4.39 1/4, up 5 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.