Corn futures are trading with gains of 7 to 8 cents so far on Monday, holding the overnight gains at midday. A weaker US dollar index is supportive. The national average Cash Corn price from cmdtyView is up 7 1/2 cents at $4.30 1/2.
USDA’s weekly Export Inspections report showed a total of 847,463 MT (33.36 mbu) of corn shipped in the week that ended on January 2. That was a drop of 6.62% from last week and down 22.42% from the same week last year. Mexico was the top destination of 273,873 MT, with 139,576 MT shipped to Columbia, and 133,237 MT to Japan. Marketing year to date shipments are now 16.236 MMT (639.2 mbu), which is still 24.49% above the same period in the 2023/24 MY.
Mar 25 Corn is at $4.58 1/2, up 7 3/4 cents,
Nearby Cash is at $4.30 1/2, up 7 1/2 cents,
May 25 Corn is at $4.65 1/2, up 7 1/4 cents,
Jul 25 Corn is at $4.68 1/4, up 7 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. More news from BarchartThe views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
