Corn futures rounded out Monday trade, with contracts down fractionally to 5 ½ cents in the nearbys. Deferred new crop contracts were up fractionally to 2 1/4 cents. There were 448 deliveries issued on Friday night. The CmdtyView national average Cash Corn price was down 1 1/2 cents to $4.05 3/4.
Export Inspections data showed corn shipments at 1.858 MT (73.17 mbu) shipped in the week that ended on February 26. That was down 8% from last week, but still the 3rd largest this year and up 37.41% from the same week last year. Mexico was the top destination of 521,921 MT, with 269,686 MT to South Korea and 221,965 MT to Japan. Marketing year shipments have totaled 39.619 MMT (1.56 mbu), which is up 42.29% yr/yr.
USDA’s Grain Crushing report from NASS showed a total of just 460.95 million bushels of corn used for ethanol production in January, shy of estimates. That was a decline of 1.49% from a year ago and down 4.5% from December’s revised (~5 mbu lower) total.
Brazil’s first crop corn harvest is now 36% complete according to AgRural, shy of the 46% pace from last year. The second crop is 66% planted in the center-south region, below the 80% from 2025. Safras & Mercado estimates the Brazilian corn crop at 141.71 MMT, down 1.17 MMT from their previous number. StoneX raised their estimate by 0.5 MMT to 136 MMT.
Mar 26 Corn closed at $4.33 1/4, down 5 1/2 cents,
Nearby Cash was $4.05 3/4, down 1 1/2 cents,
May 26 Corn closed at $4.45 3/4, down 2 3/4 cents,
Jul 26 Corn closed at $4.54 1/4, down 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.
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