Corn Rallies on Monday, as Export Hit 4 Year High

Group 1 - Corn futures experienced gains, with contracts increasing by 3 to 4.5 cents, and March futures peaked above $4.50 but could not maintain that level by the close [1] - The national average Cash Corn price rose by 4.75 cents to $3.96 1/4 [1] Group 2 - Export Inspections data indicated that 2.054 million metric tons (MMT) of corn were shipped in the week ending November 13, marking the largest weekly total since April 2021, which is 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 shipments have reached 15.838 MMT (623.5 million bushels), reflecting a 73% year-over-year increase [2] Group 3 - AgRural reported that the Brazilian first corn crop is 85% planted as of Thursday, which is below the 87% recorded during the same period last year [3] - December 25 Corn closed at $4.34 3/4, up 4.5 cents, while Nearby Cash was at $3.96 1/4, up 4.75 cents [3] - March 26 Corn closed at $4.48, up 4 cents, and May 26 Corn closed at $4.55 1/2, up 3.25 cents [3]