Corn Pulls Back to Start the Week

Austin Schroeder Barchart Mon Sep 16, 2024
Corn, blue sky - by Skitterphoto via Pixabay

Corn futures closed out the Monday session on a weaker note, as contracts were down 1 to 2 ½ cents in the nearbys. The front month national Cash Corn price from cmdtyView was down 2 ¼ cents to $3.75/bu.

USDA’s Crop Progress report showed the US corn crop at 85% dented by 9/16, 1 percentage point above normal. The crop was also reported at 45% mature, above the 38% average and 9% harvested, 3% above normal. Crop rating were up 1% to 65% gd/ex with the Brugler500 index up 1 point to 365.

Export Inspections data showed corn shipments totaling just 521,118 MT during the week that ended on September 12. That was down 37.92% below the previous week and a 22.95% drop from the same week in 2023. Of that total, a majority came from Mexico, with 328,265 MT headed that direction. 

AgRural pegs the first crop corn at 19% planted in the Center-South region of Brazil.

Dec 24 Corn  closed at $4.10 3/4, down 2 1/2 cents,

Nearby Cash  was $3.75, down 2 1/4 cents,

Mar 25 Corn  closed at $4.29 1/4, down 1 3/4 cents,

May 25 Corn  closed at $4.40 1/4, down 1 1/4 cents,

New Crop Cash  was $3.75 1/8, down 2 1/4 cents,


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.