Corn Posting Early Turnaround Tuesday Gains

Price Movement - Corn prices increased by 1 to 2 cents in the front months on Tuesday morning, following a Monday session where futures settled down by 1 to 2 cents [1] - The CmdtyView national average Cash Corn price decreased by 1.5 cents to $3.95 1/4 [1] Export Data - Export inspections data indicated corn shipments of 1.308 million metric tons (MMT) for the week ending February 5, marking a 14.01% increase from the previous week but a 4.19% decrease compared to the same week last year [2] - Mexico was the leading destination for corn exports, receiving 476,628 MT, followed by Japan with 187,063 MT and Colombia with 135,816 MT [2] - Total marketing year shipments reached 33.93 MMT (1.336 billion bushels), reflecting a year-over-year increase of 46.72% [2] USDA Report Expectations - The USDA's WASDE report is anticipated to be released, with traders expecting no significant changes to the US ending stocks number, estimated at 2.215 billion bushels according to a Bloomberg survey [3] - Global corn production estimates are expected to be updated, with Brazil's corn production projected to rise by 1.3 MMT to 132.3 MMT [3]