Corn futures are trading with 13 to 15 cent gains so far on Monday. There were 150 deliveries issued against July futures on Thursday evening. The CmdtyView national average Cash Corn price is 13 ¾ cents higher at $4.07 1/2.
Monday morning’s Export Inspections report showed corn shipments of 1.642 MMT (64.63 mbu) in the week of 7/2. That was down 9.64% from the week prior but 4.98% above the same week last year. Mexico was the largest destination of 557,071 MT, with 311,567 MT shipped to Japan and 221,783 MT headed to Colombia. The marketing year total is now 70.57 MMT (2.778 bbu) of shipments, which is now 24.87% above the same period last year.
The 7-day forecast shows rainfall totals of 1 to 3 inches across parts of the Dakotas and MN, mainly in the next couple days. Eastern Corn Belt totals are a half inch to 2 inches in the next week. Temps for the next couple weeks are looking at above normal temps. The 8-14 day outlook shows warmer temps across the country, with a dry pocket in the central part of the US.
Brazil’s second corn crop was tallied at 30% harvested in the center-south region as of last Thursday. The country’s trade data showed 435,498 MT of corn shipped during June, up from 369,533 MT last year.
Jul 26 Corn is at $4.39 1/4, up 14 1/4 cents,
Nearby Cash is at $4.07 1/2, up 13 3/4 cents,
Sep 26 Corn is at $4.37, up 14 cents,
Dec 26 Corn is at $4.56 1/2, up 15 cents,
New Crop Cash is at $4.10 3/4, up 11 1/4 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
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