Corn Getting an Early Turnaround Tuesday Bounce

Market Overview - Corn prices increased by 2 to 3 cents on Tuesday morning after closing down 1.5 to 6 cents on Monday, influenced by geopolitical events [1] - The national average cash corn price decreased by 6 cents to $4.17 3/4 [1] Export Activity - The USDA reported a private export sale of 102,000 MT of corn to Mexico on Monday [2] - Export inspections data indicated that 1.7 MMT (66.9 million bushels) of corn were shipped in the week ending March 19, marking a 1.79% increase from the previous week and a 9.83% increase year-over-year [3] - Mexico was the leading destination for corn exports, receiving 483,855 MT, followed by Japan with 327,512 MT and Colombia with 180,375 MT [3] - Total marketing year shipments reached 44.58 MMT (1.755 billion bushels), reflecting a year-over-year increase of 37.8% [3] Futures Market - May 26 corn futures closed at $4.59 1/2, down 6 cents, while currently trading up 2 3/4 cents [4] - July 26 corn futures closed at $4.70 1/2, down 5 1/2 cents, currently up 2 1/2 cents [4] - December 26 corn futures closed at $4.86 1/2, down 4 1/4 cents, currently up 2 cents [4] - New crop cash corn price was reported at $4.44 3/4, down 4 3/4 cents [4]