Corn futures posted Monday gains of 1 ¼ to 5 ¾ cents across the board on Monday. The CmdtyView national average Cash Corn price was up 5 3/4 cents at $4.25 1/4.
Monday morning’s Export Inspections report showed 1.644 MMT (64.73 mbu) of corn shipped in the week of 4/23. That was 1.33% below the same week last year and a 5.67% drop from last week. Mexico was the largest destination of 388,791 MT, with 234,765 MT shipped to Colombia and 196,816 MT to South Korea. The marketing year total is now 53.441 MMT (2.104 bbu) of corn shipped since September 1, which is 30.64% above the same period last year.
NASS Crop Progress data showed the US corn crop at 25% planted as of Sunday, which was 6% ahead of the 5-year average pace of 19%. The crop was also 7% emerged, which is 3 percentage points faster than normal.
A South Korean importer purchased 65,000 MT of wheat in a private deal late on Friday.
May 26 Corn closed at $4.60 3/4, up 5 3/4 cents,
Nearby Cash was $4.25 1/4, up 5 3/4 cents,
Jul 26 Corn closed at $4.69 1/4, up 5 3/4 cents,
Dec 26 Corn closed at $4.89 1/2, up 5 1/4 cents,
New Crop Cash was $4.46 1/4, up 5 1/4 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.