Corn futures closed out the Monday session, giving back much of the Friday gains, as contracts were down 6 to 7 cents across the front months. The CmdtyView national average Cash Corn price was down 6 ½ cents at $3.79.
Crop Progress data showed 85% of the US corn crop dented as of Sunday, with 41% mature. Harvest was pegged 7%, matching the 5-year average pace. Condition ratings were down 1% to 67% gd/ex, as the Brugler500 index was 3 points lower to 372,
USDA reported a private export sale of 148,971 MT of corn to unknown destinations for the current marketing year this morning.
Export Inspections data showed 1.512 MT (59.51 mbu) of corn shipped in the week that ended on September 11, which was an increase of 32.65% from the week prior and 65.71% larger than the same week last year. Mexico was the top destination of 462,805 MT, with 375,776 MT to Japan and 130,760 MT to Colombia. Marketing year shipments have totaled 2.161 MMT in the week and a half (85.09 mbu), 5.68% larger yr/yr.
Safras & Mercado estimates Brazil’s first corn crop in the south center region at 25.48 MT, up from 24.73 MMT last year. AgRural estimates that first corn crop at 17% planted.
Dec 25 Corn closed at $4.23 1/4, down 6 3/4 cents,
Nearby Cash was $3.79 1/1, down 6 1/2 cents,
Mar 26 Corn closed at $4.41, down 6 1/4 cents,
May 26 Corn closed at $4.51 1/4, down 5 3/4 cents,
