Of note is the continued strength in U.S. corn exports. The USDA’s upward revision today was a good reminder that while supplies are ample, demand remains robust and hence we have prices that are expected to be relatively range bound for some time. We’re keeping an eye on the global corn stocks/use ratio. Again, while there is plenty of corn, the fact is the global balance sheet continues to shrink. It’s worth keeping an eye on.The USDA reported that U.S. and global corn stocks declined, which is not bearis ...

Corn prices are trading with gains of a penny across most front months to start Tuesday trade. Futures posted losses of 1 to 2 ¼ cents on Monday, fading back from the Friday gains. Preliminary open interest was down 2,400 contracts, as March was down 8,571 contracts and the rest rising. The CmdtyView national average Cash Corn price was down 2 1/4 cents at $3.91 1/4. USDA’s FGIS tallied corn export shipments at 1.51 MMT (59.45 mbu) during the week ending on January 22. That was 1.63% larger than the week ...

Price Movement - Corn prices increased by 3 to 4 cents across most contracts on Tuesday morning, with futures gaining 3 to 4.5 cents before the Monday close [1] - March corn futures peaked above $4.50 but could not maintain that level by the close [1] - Nearby cash corn price rose by 4.75 cents to $3.96 1/4 [1] Export Data - Export inspections reported 2.054 million metric tons (MMT) of corn shipped for the week ending November 13, marking the largest weekly total since April 2021, which is a 38.35% increase from the previous week and more than double the same week last year [2] - Mexico was the leading destination for corn exports, receiving 592,006 MT, followed by Japan with 424,773 MT and South Korea with 349,789 MT [2] - Total marketing year shipments have reached 15.838 MMT (623.5 million bushels), reflecting a 73% year-over-year increase [2] Market Activity - A South Korean importer purchased 65,000 MT of corn in a tender, likely of US origin [3] - December 25 corn closed at $4.34 3/4, up 4.5 cents, while March 26 corn closed at $4.48, up 4 cents [3] - May 26 corn closed at $4.55 1/2, up 3.25 cents [3]

Group 1 - Corn prices are steady to slightly higher, with futures closing up 1 to 2 ¼ cents on Wednesday, and the CmdtyView national average Cash Corn price increased by 2 ¾ cents to $3.80 1/2 [1][4] - Preliminary open interest showed a modest increase of 13,539 contracts, indicating net new buying activity [1] - The average close for December futures this month has been $4.20 [1] Group 2 - EIA data reported ethanol production at 1.071 million barrels per day for the week ending on 10/3, a rebound of 76,000 bpd from the previous week [2] - Ethanol stocks decreased by 44,000 barrels to 22.72 million barrels, while ethanol exports rose by 50,000 barrels to 138,000 bpd [2] - Refiner inputs of ethanol fell by 13,000 bpd to 892,000 bpd [2] Group 3 - Export Sales data will not be reported due to the government shutdown, but traders expected 1.2-2 MMT of corn sold for the week of 10/2 [3] - ANEC estimates Brazilian corn exports at 6 MMT for October, an increase from 5.67 MMT in October 2024 [3] - China's CASDE report maintained the production estimate at 296.16 MMT, while reducing the import estimate by 1 MMT to 6 MMT [3]