**Corn Futures Update – June 14, 2023**
Corn futures rose on June 14, closing up ¾ to 3 ¾ cents after an earlier decline, with July contracts at $4.15 1/2. The national average cash corn price increased by 3 1/4 cents to $3.84 1/4. As of this reporting, 94% of the U.S. corn crop had emerged, surpassing the five-year average by 1%, while 68% were rated in good to excellent condition.
Weekly export inspections revealed corn shipments reached 1.636 million metric tons (MMT)—down 18.73% from the previous week and 3.47% lower than the same time last year. Mexico was the top destination, receiving 440,116 MT. Cumulative shipments for the marketing year now stand at 65.614 MMT, a significant 26.01% higher compared to last year.
In Brazil, AgRural reported the second corn crop harvesting at 8.4% complete in the center-south region, ahead of last year’s pace of 5.2%.
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