Corn futures rose 5 ¼ to 6 ¾ cents on Monday, closing prices at $4.73 ¾ for May and $4.85 ¾ for July. The national average cash corn price increased by 5 cents to $4.44 ¾.
As of Sunday, the U.S. corn crop is 38% planted, exceeding the 5-year average of 34% and matching last year’s pace. Notably, 3% of the crop has emerged, 4 percentage points ahead of normal. Shipments for the week ending April 30 totaled 2.028 million metric tons (MMT), a 22.41% increase from the previous week and 25.43% larger year-over-year, with Mexico being the top destination.
Brazil’s corn crop is estimated at 137 MMT, reflecting an increase of 1.3 MMT, driven largely by the first crop, which rose to 28.32 MMT.
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