Corn futures gained between 1 ¼ to 3 ¼ cents on Monday, with May 26 Corn closing at $4.52, up 3 1/4 cents. The CmdtyView national average Cash Corn price increased by 3 1/2 cents to $4.15 1/4.
As of Sunday, the USDA’s NASS reported that 11% of the U.S. corn crop was planted, 2% ahead of the five-year average. The crop is currently 4% emerged, surpassing the normal rate by 2 percentage points.
During the week ending April 16, USDA’s FGIS recorded corn export shipments at 1.669 million metric tons (65.7 million bushels), up 2.89% from the previous week. Mexico was the leading destination at 507,053 metric tons, with Japan and South Korea following at 352,667 metric tons and 277,579 metric tons, respectively.
