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Corn futures finish Monday higher despite weaker crop ratings
The US corn market ended with gains of 3 to 7.75 cents across most contracts, while condition ratings fell to 57% good to excellent and export inspections slipped week over week.
Corn futures pared early gains but still closed higher on Monday, with most contracts settling up 3 to 7.75 cents.
The CmdtyView national average cash corn price rose 7.75 cents to $4.63. Weekly Crop Progress showed 86% of the US corn crop in the dough stage as of August 23, with 45% dented and 6% mature.
Condition ratings declined 3% this week, leaving 57% of the crop in good to excellent condition, and the Brugler500 index fell 5 points to 348.
Export Inspections reported 1.296 MMT of corn shipments in the week of August 20, down 33.32% from the prior week and 3.16% below the same week last year. Mexico led destinations with 387,748 MT, and the marketing year export total reached 82.28 MMT, 25.51% ahead of the same period last year with just over a week left in the marketing year.
Latest closeCorn $483.75 ▲8.0%