Corn Futures Show Minor Gains Amid Fluctuating Exports

Corn futures concluded Monday trade with slight increases, rebounding from early session losses. The CmdtyView national average cash corn price rose by ½ cent, reaching $4.29 ¼.

Export Inspections Report

The Export Inspections report released Monday morning detailed that corn shipments totaled 1.463 million metric tons (MMT), or 57.6 million bushels (mbu), for the week ending March 20. This figure reflects a 16.57% increase compared to the same week last year, although it represents a decline of 13.54% from the prior week.

Mexico emerged as the leading destination with 474,491 MT, followed by Japan, which received 412,434 MT, and South Korea with 136,336 MT. Cumulatively, marketing year-to-date exports have reached 32.268 MMT (1.27 billion bushels), marking a 32% increase from the same timeframe last year.

Update on Brazil’s Second Crop Corn

As Brazil completes its second crop corn planting, AgRural projects the safrinha crop yield at 87.9 MMT. This forecast aligns with their previous estimate, although concerns have been raised regarding irregular rainfall patterns. Overall, they increased the total crop estimate to 121.8 MMT, up by 0.6 MMT from prior figures.

Market Close for Corn Futures

May 25 Corn closed at $4.64 1/2, up 1/4 cent.

Nearby Cash was pegged at $4.29 1/4, an increase of 1/2 cent.

Jul 25 Corn ended at $4.72, gaining 1/2 cent.

Dec 25 Corn finished the day at $4.51 1/2, also up by 1/2 cent.

New Crop Cash closed at $4.14 1/8, reflecting a ½ cent increase.

On the date of publication, Austin Schroeder did not hold (either directly or indirectly) positions in any mentioned securities. All data provided herein is for informational purposes only. For further details, please view the
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The opinions expressed in this article are solely those of the author and do not necessarily represent the views of Nasdaq, Inc.