Corn prices are up just a penny on Tuesday AM trade, with contracts up as much as 2 cents. Futures were steady to 2 cents lower in the front months on Monday. Preliminary open interest was down 26,666 contracts on Monday, mostly coming via the December (-68,831 contracts), with March up 36,536 contracts. The CmdtyView national average Cash Corn price was down ¾ cents at $3.87 ½.
The final Crop Progress report from NASS for the year showed a total of 96% of the corn crop harvested, slightly behind the 5-year average of 97%.
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USDA tallied corn export shipments at 1.63 MMT (64.26 mbu) during the week ending on November 20. That was 20.98% below the week prior but up 61.78% from the same week last year. Mexico was the top destination of 624,332 MT, with 284,704 MT headed to Japan and 137,136 MT to South Korea. Marketing year exports for 2025/26 are now 17.483 MMT (688.27 mbu) since September 1, which is now a staggering 72% above the same period last year.
Export Sales data will be released this morning for the week of 10/9, with traders looking for 0.9-2.5 MMT of corn sales in the delayed dataset.
Several South Korean importers purchased a total of at least 324,000 MT of corn in tenders overnight, with at least 68,000 MT expected from the US.
Dec 25 Corn closed at $4.23 3/4, down 1 3/4 cents, currently up 1 cent
Nearby Cash was $3.87 1/2, down 3/4 cent,
Mar 26 Corn closed at $4.36 3/4, down 3/4 cent, currently up 1 1/2 cents
May 26 Corn closed at $4.44 1/4, down 1/2 cent, currently up 1 1/2 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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