Corn futures experienced a rise on Monday, with contracts increasing by 3 ¼ to 15 ½ cents due to bullish market activity ahead of the US/China meeting later this week. The national average Cash Corn price rose by 15 ½ cents to $4.98 3/4.
As of September 20, the USDA reported that 58% of the US corn crop is now mature, with 13% harvested—surpassing the average pace of 11%. The condition ratings improved slightly, with 57% of the crop rated good to excellent. Additionally, corn export shipments totaled 1.938 MMT (76.32 mbu) for the week ending September 17, marking a 24.9% increase from the previous week and 39.87% higher than the same week last year.
US Treasury Secretary Bessent met with Chinese officials over the weekend to prepare for the upcoming leaders’ meeting, while Brazil’s first corn crop planting reached 27% as of Thursday, ahead of last year’s 25% pace.
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