Corn prices are experiencing slight declines with futures down ¼ cent to a penny on Tuesday morning, following gains of 1 ¼ to 3 ¼ cents the previous day. On April 16, 2023, the USDA reported that corn export shipments were at 1.669 million metric tons (MMT), a 2.89% increase from the week prior but a 3.33% decrease compared to the same week last year. Mexico accounted for the largest share at 507,053 MT.
As of Sunday, April 16, 2023, the U.S. corn crop was 11% planted, surpassing the 5-year average of 9%. Additionally, 4% of the crop has emerged, which is 2 percentage points ahead of the average pace. The national average cash corn price rose by 3.5 cents to $4.15 ¼. Notably, marketing year exports for 2025/26 have reached 51.71 MMT since September 1, a significant 31.79% increase compared to the same period last year.
