Corn futures are showing 7 to 9 cent gains to begin the new month on Tuesday.
Export Inspections data from this morning showed 965,292 MT (38 mbu) of corn shipped during the week that ended on August 29. That was up 5.2% from last week and nearly double the same total for this week last year. Mexico was the largest destination of 463,844 MT, with 202,745 MT headed to Japan. Marketing year shipments have totaled 52.03 MMT (2.048 bbu) through that date and near the end of the 23/24 shipping year.
The weekly Commitment of Traders report indicated spec traders in the corn market trimming 15,988 contracts from their net short position in the week that ended on August 27, to 241,908 contracts by that Tuesday.
AgRural estimates the first corn crop out of Brazil at 8% planted, down from 13% in the same point last year.
Sep 24 Corn is at $3.85 3/4, up 7 3/4 cents,
Nearby Cash is at $3.74, up 5 3/4 cents,
Dec 24 Corn is at $4.09 3/4, up 8 3/4 cents,
Mar 25 Corn is at $4.27 1/4, up 8 1/4 cents,
New Crop Cash is at $3.74, up 3 cents,
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