Corn Futures Climb as Dollar Weakens
Corn futures are experiencing gains of 7 to 8 cents as trading continues on Monday, maintaining the overnight increases into midday. This trajectory is aided by a weaker US dollar index. The national average Cash Corn price, according to cmdtyView, has risen 7 ½ cents to $4.30 ½.
Export Inspections Show Decline
The USDA’s weekly Export Inspections report revealed that a total of 847,463 metric tons (33.36 million bushels) of corn were shipped during the week ending January 2. This figure represents a 6.62% drop from the previous week and a 22.42% decline compared to the same week last year. Mexico was the leading destination with shipments of 273,873 metric tons, followed by Columbia with 139,576 metric tons and Japan with 133,237 metric tons. Year-to-date shipments now total 16.236 MMT (639.2 million bushels), which remains 24.49% higher than the same period in the 2023/24 marketing year.
Current Prices for Corn Futures
Mar 25 Corn is priced at $4.58 ½, up 7 ¾ cents.
Nearby Cash is at $4.30 ½, gaining 7 ½ cents.
May 25 Corn is at $4.65 ½, up 7 ¼ cents.
Jul 25 Corn stands at $4.68 ¼, with an increase of 7 cents.
On the date of publication, Austin Schroeder did not hold (either directly or indirectly) any positions in the securities mentioned in this article. All information and data provided are for informational purposes only. For further details, please refer to the Barchart Disclosure Policy here.
The views and opinions expressed in this article are those of the author and do not necessarily reflect the opinions of Nasdaq, Inc.
