Corn Facing Tuesday AM Weakness, But Well Off Overnight Lows

Group 1 - Corn prices have decreased by 1 to 3 cents in the morning, with futures down 5 to 9.5 cents on Monday, indicating a volatile market [1] - Preliminary open interest rose by 38,787 contracts on Monday, particularly in December contracts, which saw an increase of 30,379 contracts [1] - The national average cash corn price fell by 8 cents to $4.10, reflecting a downward trend in the market [1] Group 2 - USDA reported corn export shipments at 1.518 million metric tons (MMT) for 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 USDA's WASDE report is anticipated to show U.S. corn ending stocks at 2.136 billion bushels, an increase of 9 million bushels if realized [3] - Brazilian corn production is expected to rise by approximately 1 MMT to 132.07 MMT, indicating a potential increase in global supply [3] - Recent corn futures prices include March 26 closing at $4.37 1/2, May 26 at $4.53 3/4, and July 26 at $4.65 1/2, all showing declines [3]