Corn futures are up by 4 to 5.5 cents on Monday, with the CmdtyView national average cash corn price at $4.34 1/4. The USDA reported private export sales of 380,000 metric tons (MT) of corn to Mexico and 128,000 MT to South Korea.
During the week ending May 7, corn export shipments totaled 1.691 million metric tons (66.56 million bushels), down 17.1% from the previous week but up 30.04% from the same week last year. Mexico was the leading destination with 464,931 MT. For the marketing year 2025/26, exports stand at 57.18 million metric tons, a 30.49% decline from last year.
Additionally, a South Korean importer has issued a tender for 210,000 MT of corn, with a deadline set for Tuesday. The May WASDE report will be released Tuesday, with estimations for old crop corn stocks at 2.13 billion bushels and projected production for the 2026/27 crop year at 15.985 billion bushels.
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