Corn Posting Tuesday AM Gains

Price Movements - Corn prices have increased by 3 to 5 cents in the morning session, supported by a rise in crude oil prices, which are up $4.83 [1] - The nearby corn futures contracts closed down by 5.5 cents, while deferred new crop contracts saw a slight increase of 2.25 cents [1] - The CmdtyView national average cash corn price decreased by 1.5 cents to $4.05 3/4 [1] Export Data - Export inspections reported corn shipments at 1.858 million metric tons (73.17 million bushels) for the week ending February 26, marking an 8% decrease from the previous week but a 37.41% increase year-over-year [2] - Mexico was the leading destination for corn exports, receiving 521,921 metric tons, followed by South Korea with 269,686 metric tons and Japan with 221,965 metric tons [2] - Total marketing year shipments have reached 39.619 million metric tons (1.56 million bushels), reflecting a year-over-year increase of 42.29% [2] Ethanol Production - The USDA's Grain Crushing report indicated that 460.95 million bushels of corn were used for ethanol production in January, which is a decline of 1.49% from the previous year and down 4.5% from December's revised total [3] Brazilian Crop Estimates - Safras & Mercado has revised its estimate for the Brazilian corn crop down to 141.71 million metric tons, a decrease of 1.17 million metric tons from their previous estimate [4] - Conversely, StoneX has increased its estimate for the Brazilian corn crop to 136 million metric tons, up by 0.5 million metric tons [4] Market Prices - As of March 26, corn closed at $4.33 1/4, down 5.5 cents, but is currently up 4.75 cents [4] - Nearby cash corn is priced at $4.05 3/4, down 1.5 cents, while May and July 2026 corn contracts closed at $4.45 3/4 and $4.54 1/4, down 2.75 cents and 1.75 cents respectively, but are currently up by 5 cents [4]