Core Insights - Corn prices have seen a slight increase, with futures trading up by as much as 2 cents, while the national average cash corn price decreased by ¾ cents to $3.87 ½ [1][4] - The final Crop Progress report indicates that 96% of the corn crop has been harvested, which is marginally below the 5-year average of 97% [2] - Corn export shipments for the week ending November 20 were recorded at 1.63 million metric tons (MMT), which is 20.98% lower than the previous week but 61.78% higher than the same week last year [3] Market Performance - Preliminary open interest in corn futures decreased by 26,666 contracts, primarily due to a drop in December contracts by 68,831, while March contracts increased by 36,536 [1] - The December 25 corn futures closed at $4.23 ¾, down 1 ¾ cents, while March 26 corn closed at $4.36 ¾, down ¾ cent [4] Export Activity - The marketing year exports for 2025/26 have reached 17.483 MMT since September 1, representing a significant 72% increase compared to the same period last year [3] - South Korean importers have purchased at least 324,000 MT of corn, with expectations of at least 68,000 MT coming from the US [4]

Group 1 - Corn futures showed stability with a slight decrease of up to 2 cents in the front months, while the national average cash corn price fell by ¾ cents to $3.87 ½ [1] - The final Crop Progress report indicated that 96% of the corn crop has been harvested, which is slightly below the 5-year average of 97% [1] Group 2 - USDA reported corn export shipments at 1.63 million metric tons (MMT) during the week ending November 20, marking a decrease of 20.98% from the previous week but an increase of 61.78% compared to the same week last year [2] - Mexico was the leading destination for corn exports, receiving 624,332 MT, followed by Japan with 284,704 MT and South Korea with 137,136 MT [2] - Cumulative exports for the marketing year 2025/26 reached 17.483 MMT since September 1, representing a significant increase of 72% compared to the same period last year [2] Group 3 - Brazil's first corn crop is reported to be 93% planted in the center-south region, which is behind last year's pace of 95% [3] - Various corn futures closed lower, with December 25 corn at $4.23 ¾ (down 1 ¾ cents), nearby cash at $3.87 ½ (down ¾ cent), March 26 corn at $4.36 ¾ (down ¾ cent), and May 26 corn at $4.44 ¼ (down ½ cent) [3]

Core Insights - Corn futures experienced gains of 1 to 2 ¼ cents, with the national average cash corn price rising to $3.70 1/4 [1] - USDA reported corn export shipments of 1.129 MMT (44.47 million bushels) for the week ending October 9, marking a 119.74% increase year-over-year but a 33.61% decrease from the previous week [2] - The marketing year exports for 2025/26 reached 7.94 MMT (312.59 million bushels) since September 1, which is 64.97% higher than the same period last year [2] Export Destinations - Mexico was the leading destination for corn exports, receiving 299,156 MT, followed by Colombia with 202,680 MT and South Korea with 140,416 MT [2] Market Estimates - CONAB increased its estimate for the 2025/26 Brazilian corn crop by 0.32 MMT to 138.6 MMT [3] - ANEC projected Brazilian corn exports for October at 6.46 MMT, reflecting a 0.4 MMT increase from the previous estimate [3] Price Movements - December 25 corn futures are priced at $4.13, up 2 ¼ cents, while nearby cash corn is at $3.70 1/4, up 1 ¾ cents [3] - March 26 corn futures are at $4.29 1/4, up 2 cents, and May 26 corn futures are at $4.38, up 1 ½ cents [3]

Core Insights - Corn prices are experiencing slight gains following a period of weaker trading, with futures showing increases of 5 to 6 ¼ cents across the front months [1] - The U.S. corn crop is currently 7% harvested, aligning with the 5-year average, but condition ratings have decreased by 1% to 67% good/excellent [2] - Early harvest reports indicate yields may be lower than last year, raising concerns about whether this trend will continue as harvesting progresses [3] Group 1: Market Performance - Futures prices for December 25 Corn closed at $4.29 1/2, up 6 1/4 cents, while March 26 Corn closed at $4.47, up 6 cents [3] - The CmdtyView national average Cash Corn price increased by 6 1/4 cents to $3.85 ¼ [1] Group 2: Crop Conditions - The Brugler500 index for corn conditions fell by 3 points to 372, with only Illinois, Nebraska, and Ohio showing improvements in crop conditions [2] - Significant declines in conditions were noted in Indiana (-7), Iowa (-4), Minnesota (-3), Missouri (-3), and North Dakota (-4) [2] Group 3: Export and Import Activity - ANEC estimates Brazilian corn exports for September at 7.12 million metric tons, slightly above previous estimates [3] - A private South Korean importer has purchased 65,000 metric tons of corn in a recent tender [3]