Corn futures contracts closed 1 to 2 cents lower in Monday’s session. CmdtyView The national average cash corn price was down 1 1/2 cents at $3.95 1/4.
Export inspection data showed corn shipments of 1.308 MMT (51.49 MBU) in the week ending February 5. This was up 14.01% from the previous week, but down 4.19% from the same week last year. Mexico was the top destination at 476,628 metric tons, followed by Japan at 187,063 metric tons and Colombia at 135,816 metric tons. Total shipments in the marketing year stood at 33.93 MMT (1.336 BBU), up 46.72% year-on-year.
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USDA’s WASDE will be released on Tuesday, according to a Bloomberg survey, traders expect no major change in the final US stock numbers, with the average trade estimate at 2.215 BUU. Global data is expected to see an update, with corn production in Brazil estimated to rise by 1.3 MMT to 132.3 MMT.
Brazil’s first corn harvest is listed at 15%, up 19% from last year, according to Agrireal. Second crop planting has reached 22%, slightly ahead of the 2025 pace of 20%.
March 26 Corn Down 1 1/2 cents at $4.28 3/4,
cash nearby Was $3.95 1/4, down 1 1/2 cents,
26 May Mecca closed down 1 3/4 cents at $4.37,
26 July Mecca It closed down 1 1/2 cents at $4.43 3/4.
On the date of publication, Austin Schroeder did not have (directly or indirectly) any positions in any securities mentioned in this article. All information and data in this article is for informational purposes only. Please see the Barchart Disclosure Policy here for more information.
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