Corn futures closed out the Monday session with contracts fractionally mixed, as December was a one exception, up 2 cents. The national average Cash Corn price from cmdtyView was up 2 1/2 cents at $3.87 1/4 per bu.
USDA reported a couple private export sales this morning of 150,000 MT to Mexico and 120,000 MT of corn to unknown destinations, both for 2024/25.
NASS Crop Progress data showed 91 of the US corn harvest complete as of November 3. That compares to the 75% 5-year average pace.
Export Inspections data showed 779,078 MT (30.67 mbu) of corn shipped in the week that ended on October 31. That was down 7.3% from last week but up 35.6% from the same week last year. A total of 521,067 MT was headed to Mexico, with 83,013 MT shipped to Japan. Marketing year to date shipments have totaled 7.423 MMT (292.24 mbu), which is 33.7% above the same period last year.
A StoneX estimate for the US corn crop pegs yield at 183.7 bpa, down from the 184 bpa in their previous projection.
Dec 24 Corn closed at $4.16 1/2, up 2 cents,
Nearby Cash was $3.87 1/4, up 2 1/2 cents,
Mar 25 Corn closed at $4.30, up 3/4 cent,
May 25 Corn closed at $4.37 1/4, unch,
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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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
