Corn futures closed lower on July 26, with July contracts down ¼ cent at $4.37 ¾. The CmdtyView national average cash corn price rose by 1 ½ cents to $4.10. The weekly Export Inspections report indicated corn shipments totaled 1.54 million metric tons (MMT), a decline of 11.26% from the previous week but up 17.15% compared to the same week last year.
As of July 12, 16% of the U.S. corn crop was silking, four percentage points ahead of the five-year average, with 6% in the dough stage. Condition ratings remained steady at 68% good to excellent. The Brugler500 index saw a slight increase to 371. Current forecasts predict little to no precipitation across key agricultural states.
For the marketing year, total corn shipments have reached 72.21 MMT, up 24.85% from the same period last year. Major destinations included Mexico (400,015 MT), Japan (300,620 MT), and Vietnam (204,633 MT).
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.
