Corn Closes With Slight Gains on Monday
Corn futures closed out the Monday session with contracts up 1 to 1 ¾ cents on the day, with help from still solid shipment data and more export business. The national average Cash Corn price from cmdtyView was up 1 1/4 cents at $3.94 1/2 per bu.
This afternoon’s Crop Progress report showed that 87% of the US corn crop was mature by October 6, with harvest running 3 percentage points ahead of normal at 30%. Condition ratings remained at 64% gd/ex, with 1% falling from fair to very poor, which dropped the Brugler500 index rating by 2 points to 361.
USDA reported a private export sale of 155,000 MT of corn to Mexico this morning for 2024/25 via their daily reporting system.
The weekly Export Inspections report from FGIS showed 933,274 MT (36.74 mbu) in corn shipments during the week that ended on October 3. That was a 16.02% improvement from the same week last year but still down 18.81% from last week. The largest of the shipments were to Mexico, at 423,071 MT, with 220,559 MT headed to Japan. Accumulated sales have now totaled 4.274 MMT (168.2 mbu) so far in the marketing year.
AgRural estimates the Brazilian corn crop at 37% planted in the Center-South region.
Dec 24 Corn closed at $4.26, up 1 1/4 cents,
Nearby Cash was $3.94 1/2, up 1 1/4 cents,
Mar 25 Corn closed at $4.42 3/4, up 1 cent,
May 25 Corn closed at $4.51 1/2, up 1 cent,
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.