Corn is pushing higher with fractional gains so far on Tuesday morning. The corn market posted gains across most contracts on Monday, with contracts up 3 to 5 ¼ cents in the nearbys and fractionally mixed for the 2025 crop. Spillover support from a double digit bounce in the wheat market helped the bulls. The national average Cash Corn price from cmdtyView was up 5 1/2 cents at $4.05 1/2 per bu.
Export Inspections data from the FGIS showed a total of 820,608 MT (32.306 mbu) of corn shipped in the week of 11/14. That was a 2.93% jump from the week prior and 36.52% larger than the same week last year. Of that total, 396,178 MT was headed to Mexico, with 129,132 MT on its way to Japan. Total marketing year shipments are now 9.062 MMT (356.77 mbu), which is 31.88% above the same point last year and a 6-year high for the current week.
Brazil’s first corn crop was pegged at 86% planted as of November 14 in the Center-South region of the country, which is faster than the 80% pace from last year.
Dec 24 Corn closed at $4.29 1/4, up 5 1/4 cents, currently up 3/4 cent
Nearby Cash was $4.05 1/2, up 5 1/2 cents,
Mar 25 Corn closed at $4.39 3/4, up 4 1/2 cents, currently up 1/2 cent
May 25 Corn closed at $4.46 3/4, up 4 cents, currently up 1/2 cent
- What the Election Results May Mean for the Corn and Soybean Markets
- Global Corn Dynamics: Surging US Export Demand, Smaller Supplies And A China Wildcard
- What Surprisingly Strong Cash Markets Are Saying About Corn And Soybeans
- Grains Recover in Q3- What are the Prospects for Q4 and Beyond?
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