Corn futures saw gains hold into the Monday close, as contracts were up 3 to 4 ½ cents. March peaked above $4.50 but couldn’t hold into the close. The CmdtyView national average Cash Corn price was back up 4 3/4 cents at $3.96 1/4.
Export Inspections data showed 2.054 MMT (80.86 mbu) of corn shipped in the week that ended on November 13, the largest total for any week since April 2021. That was an increase of 38.35% from the week prior and more than double the same week last year. Mexico was the top destination of 592,006 MT, with 424,773 MT to Japan and 349,789 MT to South Korea. Marketing year shipments have totaled a massive 15.838 MMT (623.5 mbu) already, a 73% increase yr/yr.
AgRural estimates the Brazilian first corn crop at 85% planted as of Thursday, below the 87% from the same period last year.
Dec 25 Corn closed at $4.34 3/4, up 4 1/2 cents,
Nearby Cash was $3.96 1/4, up 4 3/4 cents,
Mar 26 Corn closed at $4.48, up 4 cents,
May 26 Corn closed at $4.55 1/2, up 3 1/4 cents,
