Corn futures slipped into the Monday close as contracts were mostly 1 ½ to 2 ¾ cents higher. July was down ¼ cent. The CmdtyView national average Cash Corn price as 1 1/2 cents higher at $4.10.
The weekly Crop Progress report showed 16% of the US corn crop silking by July 12, 4 percentage points ahead of the 5-year average, with 6% in the dough stage. US condition ratings were left at 68% in good to excellent condition, as the Brugler500 index was up 2 to at 371.
Don’t Miss a Day: From crude oil to coffee, sign up free for Barchart’s best-in-class commodity analysis.Updated forecasts from the NOAA 7-day QPF shows little to no precipitation for an area ranging from the Dakotas, south through KS, as well as much of MN, IA, IL, and MO, with trace totals in OH and IN.
The weekly Export Inspections report showed corn shipments of 1.54 MMT (60.6 mbu) in the week of 7/9. That was an 11.26% drop from the week prior but 17.15% above the same week last year. Mexico was the largest destination of 400,015 MT, with 300,620 MT shipped to Japan and 204,633 MT to Vietnam. Shipments for the marketing year are now at 72.21 MMT (2.843 bbu) of corn, which is 24.85% above the same period last year.
Jul 26 Corn closed at $4.37 3/4, down 1/4 cent,
Nearby Cash was $4.10 1/1, up 1 1/2 cents,
Sep 26 Corn closed at $4.41, up 1 1/2 cents,
Dec 26 Corn closed at $4.63 1/4, up 2 1/4 cents,
New Crop Cash was $4.13 1/8, up 1 3/4 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 here.- Global Weather Concerns and China Demand Are Spiking Corn, Soybean, and Wheat Prices
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