Corn futures reported mixed activity on Monday, with contracts down 4 to 5.5 cents, closing at $4.03 3/4 for September 25 corn and $4.22 1/4 for December 25 corn. The national average new crop cash corn price is currently $3.80.
As of July 20, 56% of the U.S. corn crop was in the silking stage, two points below the five-year average. Condition ratings remained steady at 74% good/excellent. The USDA’s Grain Inspections data for the week ending July 17 recorded 983,625 metric tons inspected for export, a decrease from 1.314 million metric tons the previous week and down from 991,257 metric tons year-over-year. Year-to-date inspections total 58.718 million metric tons, up 28.9% compared to the prior year.
