Corn Bulls Fighting Back on Monday, as Export Boom to 4 Year High

Group 1 - Corn futures are recovering some losses, with contracts increasing by 4 to 5 ½ cents at midday [1] - The national average Cash Corn price has risen by 5 ¼ cents to $3.97 ½ [1] Group 2 - Export Inspections data indicates that 2.054 MMT (80.86 mbu) of corn was shipped in the week ending November 13, marking the highest total since April 2021, a 38.35% increase from the previous week and more than double the same week last year [2] - Mexico was the leading destination for corn exports, receiving 592,006 MT, followed by Japan with 424,773 MT and South Korea with 349,789 MT [2] - Year-to-date corn shipments have reached 15.838 MMT (623.5 mbu), reflecting a 73% year-over-year increase [2] Group 3 - AgRural reports that the Brazilian first corn crop is 85% planted, which is below the 87% from the same period last year [3] - Current corn prices include Dec 25 Corn at $4.35 ½ (up 5 ¼ cents), Nearby Cash at $3.97 ½ (up 5 ¼ cents), Mar 26 Corn at $4.48 ¾ (up 4 ¾ cents), and May 26 Corn at $4.56 ½ (up 4 ¼ cents) [3]