Corn futures closed Monday’s session with a loss of 1 to 3 cents in most contracts, as an acre cut failed to provide great fuel to the bull. Front Month CMDTYVIEW National Average Cash corn The price was 2 3/4 cents below $ 3.91 1/4.
Drops of crop progression indicated that the US corn crop was 8% silking till June 29, which was a 6% average speed. The condition rating was 73% good/excellent from 3 points, as the Brougler 500 index was more than 6 points 382.
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The quarterly USDA Grain Stock Report featured 4.643 BBU corn in the stock on 1 June. This average trade was slightly above the estimate and below 354 MBUs before the year. The annual monogam report indicated 95.203 million acres of corn, which according to the manufacturer survey was placed in this spring. This was just 123,000 below the report of the march intention and 204,000 acres below as compared to estimates.
This morning’s export inspection report showed a total of 1.37 mm (53.93 MBU) of the corn shipped during the week of 6/26. It is 8.92% from last week and 64.81% in 2024 from the same week. The Mexico was a top destination of 335,221 metric top, leading 229,872 tonnes and 209,887 Mount for Japan. The marketing year shipment is now at 54.944 MMT (2.163 BBU), which is 29.28% above the same short term last year.
Brazil’s corn crop was estimated at 130.6 MMT by an Agral update this morning, above the previous estimate that was above 1.9 MMT, all the second crop (130.6 MMT) growth.
July 25 Corn Closed at $ 4.20 1/2, up to 3 cents,
Cash $ 3.91 1/4, below 2 3/4 cents,
September 25 Corn Closed at $ 4.09 1/4, 2 1/4 cents below,
25 December Corn Closed at $ 4.25 1/2, 1 1/2 cents,
New crop cash $ 3.82 3/4, below 2 1/2 cents,
On the date of publication,
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