Corn futures closed out the Monday session seeing some slight buying off the midsession lows, though contracts were still 4 to 5 ½ cents in the red. The CmdtyView national average new crop Cash Corn price this morning is $3.80.
Crop Progress data indicated 56% of the US corn crop was silking as of 7/20, 2 points back of the 5-year average. The crop was 14% in the dough stage, vs. the 12% average. Condition ratings were unchanged at 74% gd/ex and 385 on the Brugler500 index.
This morning’s USDA Grain Inspections report indicated 983,625 MT were inspected for export in the reporting week ending July 17. That was down slightly from 991,257 MT a year ago, and well off of the updated 1.314 MMT shipped the previous week. The YTD inspections total 58.718 MMT (~2.315 billion bushels), up 28.9% from a year ago at the same time.
Sep 25 Corn closed at $4.03 3/4, down 4 3/4 cents,
Nearby Cash was $3.90, down 4 3/4 cents,
Dec 25 Corn closed at $4.22 1/4, down 5 1/2 cents,
Mar 26 Corn closed at $4.39 3/4, down 5 cents,
New Crop Cash was $3.80 1/8, down 5 cents,
