Corn futures ended the Monday session with contracts fractionally to 1 ¼ cents lower across most contracts. Tuesday is first notice data for May corn futures. 

Export Inspections data from FGIS showed 1.23 MMT of corn shipped in the week of April 25, a 26.21% drop from the previous week and also 19.27% below the same week last year. The lead destination was Japan, with 391,224 MT in shipments, as 374,571 MT was headed to Mexico. Accumulated shipments this marketing year have totaled 31.624 MMT (1.245 bbu), which is 32.3% above the same week last year.

Weekly Crop Progress data showed quite a bit of planting getting done ahead of the rain late last week with 27% of the crop in the ground by Sunday. That was up 15% on the week and is 5% ahead of the 5-year average. The crop was also 7% emerged, with the average pace at 4%.

May 24 Corn  closed at $4.39 1/4, down 3/4 cent,

Nearby Cash  was $4.25 1/4, down 1/8 cent,

Jul 24 Corn  closed at $4.49 1/4, down 3/4 cent,

Dec 24 Corn  closed at $4.72 3/4, down 3/4 cent,

New Crop Cash  was $4.36 7/8, down 1 cents,

On the date of publication, Alan Brugler did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.