Corn prices are starting Tuesday with just fractional losses Futures closed out the Monday session with contracts rallying 7 to 9 cents across most front months.
Crop Progress data from Monday afternoon showed 74% of the US corn crop in the dough stage by August 18, with 30% dented and 5% mature, all 2-4% faster than the 5-year average pace. Conditions were unchanged in the gd/ex categories at 67%, with the Brugler500 index dropping 2 points to 368 as 1% shifted from fair to very poor.
The first leg of the ProFarmer Crop Tour kicked off on Monday, with South Dakota averaging a 156.51 bpa yield. That was below the 157.42 bpa from last year but is above the 3-year average of 142.44 bpa. Ohio yields averaged 183.29 bpa, slightly below last year’s 183.94 bpa, but larger than the three year average of 181.06 bpa.
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.
Sep 24 Corn closed at $3.78, up 7 1/2 cents, currently down 3/4 cent
Nearby Cash was $3.65 3/4, up 7 1/4 cents,
Dec 24 Corn closed at $4.00 1/4, up 7 3/4 cents, currently down 3/4 cent
Mar 25 Corn closed at $4.19 1/4, up 8 1/4 cents, currently down 3/4 cent
New Crop Cash was $3.58 1/2, up 3 3/4 cents,
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