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Corn futures ease as September sees deliveries while export pace rises
December corn is down 2 to 3 cents from the overnight high, while weekly export inspections showed shipments at 1.496 MMT, up 13.1% week over week.
Corn prices traded slightly lower Tuesday, with December futures off 2 to 3 cents from the overnight high to start September. August ended with contracts up 1 to 3.5 cents on the session, and open interest rose by 15,541 contracts on Monday.
September corn also saw 187 deliveries issued overnight. The CmdtyView national average cash corn price edged higher by 3.5 cents to $4.93 per 1/2-bu.
This week's Crop Progress report showed 62% of the US corn crop in the dough stage as of August 30, with 62% dented and 13% listed as mature. Condition ratings were steady at 47% in good to excellent, and the Brugler500 index slipped to 347.
Export Inspections for the week of August 27 totaled 1.496 MMT, or 58.9 mbu, up 13.1% from the prior week and 6.1% above the same week last year. Mexico led shipments at 510,453 MT, followed by South Korea at 264,474 MT and Japan at 173,086 MT, while the marketing year export total stood at 83.81 MMT, 25.1% ahead of the same period last year.
Latest closeCorn $542.50 ▲4.0%