Corn futures rose by 14 to 15 cents on Monday, with the national average cash corn price increasing by 15 cents to $4.97 1/4 per bushel. USDA’s FGIS reported corn export shipments of 1.938 million metric tons (MMT) for the week ending September 17, marking a 24.9% increase from the previous week and a 39.87% rise year-over-year. Notably, Japan was the largest recipient, receiving 591,923 MT, followed by Mexico with 540,979 MT and Colombia with 259,441 MT.
As of September 15, managed money added 1,671 contracts to their net long position in corn futures and options, bringing the total to 426,842 contracts. Meanwhile, Brazil’s first corn crop planting is at 27% completion, slightly ahead of last year’s pace of 25%. The upcoming meeting between President Trump and China’s President Xi raises questions about potential corn sales to China, with recent discussions between U.S. Secretary Bessent and Chinese counterparts showing no new developments.
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