Corn futures are gaining some strength to start out the week, as contracts are p 6 to 7 cents through Monday’s midday.
Export Inspections data showed 1.17 MMT (45.91 mbu) in corn shipments during the week that ended on August 15. That was more than double the same week last year and 18.24% above the previous week. Mexico was the top destination of 569,429 MT, with another 339,542 MT headed to Japan. Marketing year shipments have totaled 50.099 MMT (1.972 bbu) since September 1, 2023, which is 38.47% above the same time last year.
A Bloomberg survey of estimates shows that corn conditions are expected to remain unchanged is this afternoon’s Crop Progress report at 67% gd/ex.
The first leg of the ProFarmer Crop Tour kicks off today, with participants in southeast South Dakota/northeast Nebraska and Ohio/eastern Indiana today.
Sep 24 Corn is at $3.77 1/4, up 6 3/4 cents,
Nearby Cash is at $3.64 1/4, up 6 1/2 cents,
Dec 24 Corn is at $3.99 1/4, up 6 3/4 cents,
Mar 25 Corn is at $4.18, up 7 cents,
New Crop Cash is at $3.58 7/8, up 4 1/4 cents,
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