Corn futures are trading with midday gains of 1 to 2 cents on Monday. There were 45 deliveries issued against September futures overnight.
Weekly Export Inspections data for the week ending September 5 showed 836,413 MT of corn shipped, with 468,626 MT in the new marketing year. This volume is 31.4% larger than the same week in 2023 but down 13.45% from the previous week. Mexico was the largest destination, receiving 403,551 MT, while Spain received 173,654 MT. The 2023/24 marketing year final inspections now total 52.4 MMT.
In Brazil’s center-south region, corn planting for the first crop is 15% complete, lagging behind last year’s 17% pace. As of now, September 24 corn is priced at $3.85, with nearby cash at $3.72 3/4, both up 1 1/4 cents.
