Corn futures ended the Tuesday session with nearby contracts down up to 5.25 cents, while May futures closed at $4.65. The CmdtyView national average cash corn price decreased by 6 cents to $4.38. As of Sunday, the U.S. corn crop is 38% planted, 4% ahead of the five-year average and matching last year’s pace, with 3% emerged, 4 percentage points faster than normal.
Monthly export data revealed that the U.S. exported 8.03 million metric tons (316.2 million bushels) of corn in March, the second-largest monthly total on record, and 18.61% above February levels. Distillers exports rose by 11.84% year-over-year to 1.029 million metric tons, and ethanol shipments reached 217.77 million gallons.
Weather forecasts indicate that the northern Plains and parts of Iowa and Wisconsin will remain dry, promoting further planting progress, while areas from Missouri through the East Coast are expected to receive 1 to 3 inches of rain.
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