Corn prices surged on Monday morning, with increases of 11 to 14 ¾ cents noted. As of July 26, the nearby cash corn price settled at $3.93 ¾, reflecting a ¼-cent rise. The average cash corn price for the week was 1/4 cent higher. The latest export sales data indicates a total of 732,070 metric tons (MT) of old crop corn were sold for the week ending June 25, a 37.4% increase compared to the same week last year. Mexico was the leading buyer, purchasing 261,000 MT.
Weather forecasts indicate expected rainfall totals of 1 to 3 inches in parts of the Dakotas and Minnesota over the next few days, along with above-normal temperatures. In Brazil, 30% of the second corn crop has been harvested, with 435,498 MT shipped in June, up from 369,533 MT in the previous year.
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
