Corn futures rounded out the Monday trade with contracts up 2 to 3 cents across most contracts, as futures firmed up into the close.
Export Inspections data showed 1.6 MMT (62.99 mbu) of corn shipped in the week that ended on October 2, which was an increase of 3.94% from the week prior and 68.74% above the same week last year. Mexico was the top destination of 457,117 MT, with 231,859 MT to Japan and 207,861 MT to Spain. Marketing year shipments have totaled 6.709 MMT (264.11 mbu), 56.06% larger yr/yr.
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USDA’s Crop Progress report was not published due to the government shutdown. The trade was looking for corn harvest to near 29% complete as of Sunday, with conditions seen near 65% good/excellent (down 1% from last week).
AgRural estimates the Brazilian first corn crop at 40% planted as of Thursday in the center south region. Last year at the same week was listed at 37%. Brazilian corn exports in September totaled 7.56 MMT according to the country’s trade data That was a 10.43% increase from August and 17.77% larger than last year.
Dec 25 Corn closed at $4.21 3/4, up 2 3/4 cents,
Mar 26 Corn closed at $4.38 1/4, up 2 1/2 cents,
May 26 Corn closed at $4.47 1/4, up 2 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.
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