Corn Heads Lower into the Close
Corn futures fell lower into the Monday close, as contracts were down 3 to 4 cents across most months. The CmdtyView national average Cash Corn price was down 2 3/4 cents at $3.70 3/4.
USDA’s Crop Progress report showed the US corn crop at 88% silking, with 42% in the dough stage. The crop was also listed at 6% dented. Conditions were steady this week, at 73% gd/ex and 384 on the Brugler500 index.
StoneX estimates the US corn crop at 188.1 bushel per acre, with the production total at 16.323 bbu. Their Brazilian corn second crop estimate is at 111.7 MMT, which is up 3.5 MMT from their previous number.
Export Inspections data showed 1.208 MMT (47.54 mbu) of corn shipped in the week that ended on July 31, which was up down 21.18% from the week prior and 5.08% below the same week last year. Mexico was the top destination of 572,682 MT, with 182,950 MT to Colombia and 147,823 MT to Japan. Marketing year shipments have totaled 61.56 MMT (2.423 bbu) since September 1, 28.36% larger yr/yr.
Sep 25 Corn closed at $3.87, down 2 1/2 cents,
Dec 25 Corn closed at $4.07, down 3 3/4 cents,
Mar 26 Corn closed at $4.24 3/4, down 3 1/2 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. For more information please view the Barchart Disclosure Policy here.
