Corn Falls into the Monday Close as Crude Retreats

Group 1 - Corn futures decreased by 5 to 9.5 cents in the front months, with the CmdtyView national average Cash Corn price down 8 cents to $4.10 [1] - Crude oil prices fell by $5.85, marking a decline of over $33 from overnight highs, influenced by President Trump's indication that the ongoing conflict may be nearing an end [1] Group 2 - USDA's FGIS reported corn export shipments at 1.518 million metric tons (MMT) during the week ending March 5, which is 18.4% lower than the previous week and 17.7% lower than the same week last year [2] - Mexico was the leading destination for corn exports, receiving 497,964 MT, followed by Japan with 243,022 MT and Colombia with 203,726 MT [2] - Marketing year exports for 2025/26 reached 41.21 MMT since September 1, representing a 41.54% increase compared to the same period last year [2] Group 3 - The upcoming USDA's WASDE report is expected to show US corn ending stocks at 2.136 billion bushels, an increase of 9 million bushels if realized [3] - Brazilian corn production is projected to rise by approximately 1 MMT to 132.07 MMT, with the first corn crop 42% harvested, trailing behind last year's pace of 54% [3] - The second corn crop is reported to be 82% planted, lagging behind last year's 92% [3]