Corn prices are showing fractionally mixed trade so far on Tuesday AM. Futures closed out the Monday session with fractional to 4 ¾ cent gains following a slew of export sales announcements totaling 498,118 MT to unknown, Mexico, and South Korea. Preliminary open interest showed net new buying, up 20,956 contracts, with most of that in the March contract (13,944). The national average Cash Corn price from cmdtyView was up 5 cents at $3.78 1/4 per bu. 

The weekly Crop Progress report showed the US corn crop was 98% mature as of October 20, up from the 95% average. Harvest was tallied at 65% complete, which is 13 percentage points ahead of the 5-year average pace.

Monday morning’s Export Inspections report tallied 999,811 MT (39.36 mbu) in the week that ended on October 17. That was more than double the same week last year and up 97.35% from the week prior. Of the total, 565,254 MT was headed to Mexico, with 132,799 MT on its way to Columbia. That took the marketing year total to 5.795 MMT (228.14 mbu), up 30.61% above the same week last year and the largest since the 2018/19 marketing year. 

Brazil’s first corn crop is now 48% planted as of Thursday according to AgRural. 

Dec 24 Corn  closed at $4.09 1/2, up 4 3/4 cents, currently up 1/4 cent

Nearby Cash  was $3.78 1/4, up 5 cents,

Mar 25 Corn  closed at $4.23 1/4, up 4 1/4 cents, currently down 1/2 cent

May 25 Corn  closed at $4.30 1/2, up 4 cents, currently down 1/4 cent