Corn futures are down 3 to 4 cents across most contracts on Monday, with March down 6 cents. There were 448 deliveries issued on Friday night. The CmdtyView national average Cash Corn price was up 3 3/4 cents to $4.03 3/4.
Export Inspections data showed corn shipments at 1.858 MT (73.17 mbu) shipped in the week that ended on February 26. That was down 8% from last week, but still the 3rd largest this year and up 37.41% from the same week last year. Mexico was the top destination of 521,921 MT, with 269,686 MT to South Korea and 221,965 MT to Japan. Marketing year shipments have totaled 39.619 MMT (1.56 mbu), which is up 42.29% yr/yr.
Commitment of Traders data tallied managed money cutting another 13,548 contracts from their net short position in the week ending on 2/24, taking it to 13,867 contracts.
Brazil’s first crop corn harvest is now 36% complete according to AgRural, shy of the 46% pace from last year. The second crop is 66% planted in the center-south region, below the 80% from 2025. Safras & Mercado estimates the Brazilian corn crop at 141.71 MMT, down 1.17 MMT from their previous number. StoneX raised their estimate by 0.5 MMT to 136 MMT.
Grain Crushing data will be released this afternoon, with traders looking for a January corn grind number near 483 million bushels.
Mar 26 Corn is at $4.32 3/4, down 6 cents,
Nearby Cash is at $4.03 3/4, down 3 3/4 cents,
May 26 Corn is at $4.44 3/4, down 3 3/4 cents,
Jul 26 Corn is at $4.53, down 3 cents,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Barchart.com
