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Corn Holds Steady on Monday

Barchart
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⚡ Quantum Brief
U.S. corn futures showed mixed but stable movement on Monday, with December contracts rising 2 cents to $4.16½ per bushel while other months remained flat or slightly up. The national average cash corn price climbed 2½ cents to $3.87¼ per bushel, supported by private export sales totaling 270,000 metric tons to Mexico and unknown buyers for 2024/25. Harvest progress reached 91% completion as of November 3, significantly ahead of the 75% five-year average, per USDA data. Weekly corn exports fell 7.3% from the prior week but surged 35.6% year-over-year, with Mexico and Japan as top destinations, bringing marketing-year shipments 33.7% above 2023 levels. StoneX lowered its U.S. corn yield estimate to 183.7 bushels per acre, down from 184, reflecting potential supply adjustments.
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AAPL TSLA AMZN META AMD NVDA PEP COST ADBE GOOG AMGN HON INTC INTU NFLX ADP SBUX MRNA AAPL TSLA AMZN META AMD NVDA PEP COST ADBE GOOG AMGN HON INTC INTU NFLX ADP SBUX MRNA AAPL TSLA AMZN META AMD NVDA PEP COST ADBE GOOG AMGN HON INTC INTU NFLX ADP SBUX MRNA Stocks Corn Holds Steady on Monday November 04, 2024 — 07:12 pm EST Written by Austin Schroeder for Barchart-> Corn futures closed out the Monday session with contracts fractionally mixed, as December was a one exception, up 2 cents. The national average Cash Corn price from cmdtyView was up 2 1/2 cents at $3.87 1/4 per bu. USDA reported a couple private export sales this morning of 150,000 MT to Mexico and 120,000 MT of corn to unknown destinations, both for 2024/25.NASS Crop Progress data showed 91 of the US corn harvest complete as of November 3. That compares to the 75% 5-year average pace. Export Inspections data showed 779,078 MT (30.67 mbu) of corn shipped in the week that ended on October 31. That was down 7.3% from last week but up 35.6% from the same week last year. A total of 521,067 MT was headed to Mexico, with 83,013 MT shipped to Japan. Marketing year to date shipments have totaled 7.423 MMT (292.24 mbu), which is 33.7% above the same period last year. A StoneX estimate for the US corn crop pegs yield at 183.7 bpa, down from the 184 bpa in their previous projection.Dec 24 Corn closed at $4.16 1/2, up 2 cents,Nearby Cash was $3.87 1/4, up 2 1/2 cents,Mar 25 Corn closed at $4.30, up 3/4 cent,May 25 Corn closed at $4.37 1/4, unch, On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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