Corn futures posted Monday strength, holding the gains into the close. Contracts were up 2 to 3 cents across most nearbys. The CmdtyView national average Cash Corn price was down 2 1/4 cents at $3.68 1/2.
USDA’s weekly Crop Progress report showed the US corn crop at 94% silking, with 58% in the dough stage. The crop was also listed at 14% dented as of Sunday. Conditions slipped 1 point this week, to 72% gd/ex and 383 on the Brugler500 index.
This morning’s Export Inspections report showed a total of 1.492 MMT (58.74 mbu) of corn shipped in the week of 8/7. That is up 16.13% above previous week and 51.28% larger than the same week in 2024. Mexico was the buyer of 500,209 MT, with 261,366 MT headed to Japan and 198,072 MT to 198,072 MT. Marketing year shipments are now at 63.127 MMT (2.485 bbu), which is 28.98% above the same period last year.
Ahead of the USDA Crop Production reports next week, analysts surveyed by Bloomberg shows an average guess of 184.3 bpa for national corn yield with a wide range of 181 to 189. Production is pegged at 15.995 billion bushels, which would be up 290 mbu from last month’s WASDE total. Old crop corn stocks are estimated to be projected at 1.325 bbu, down 15 mbu from last month. New crop is expected to be up 240 mbu to 1.9 bbu.
APK-Inform estimate the 2025 Ukraine corn crop at 27.5 MMT, up 2.5 MMT from last month with the country’s deputy economy minister showing a 2 MMT increase to 28 MMT. AgRural estimates the Brazilian second corn crop at 88% harvested.
Sep 25 Corn closed at $3.85, up 2 1/4 cents,
Nearby Cash was $3.68 1/2, up 2 1/4 cents,
Dec 25 Corn closed at $4.07 3/4, up 2 1/4 cents,
Mar 26 Corn closed at $4.25 1/4, up 2 1/4 cents,
New Crop Cash was $3.64 1/4, up 2 1/4 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. This article was originally published on Barchart.com
