Corn Maintains Gains into Monday

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Corn futures gained modestly on Monday, with September corn closing at $3.89 ¼, up 1 cent. The CmdtyView national average cash corn price increased by a penny to $3.71 ¾.

The USDA’s Crop Progress report indicated that 44% of the corn crop is dented and 7% is mature, consistent with average annual trends. The Brugler500 index held steady at 381, with 71% of the corn rated good/excellent.

Export inspections reported 1.305 million metric tons (MMT) of corn shipped for the week ending August 21, marking a 24.12% increase from the previous week and a 38.84% rise year-over-year, with Mexico and Japan being the leading destinations. Year-to-date shipments totaled 65.526 MMT, up 28.23% year-over-year.

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