S&P 500 — US Large Cap Index
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Bovespa — Brazil Equities
JSE Top 40 — South Africa Index
IPC Index — Mexico MarketCorn futures closed the Monday session with contracts under pressure, posing losses of 9 to 11 ¼ cents across most months. The front month CmdtyView national average Cash Corn price was down 8 3/4 at $4.09 1/2.
NASS Crop Progress data showed the US corn crop at 97% planted, on pace with the 5-year average, as emergence was listed at 90% (vs. the 5-year average of 88%). Condition ratings were 71% good/excellent, up 3 percentage points. That translates to a 378 on the Brugler500 index, up 3 points on the week. Rains are expected in parts of eastern SD, MN, and northern IA in the next week, along with the southern portion of the Corn Belt.
Weekly Export Inspections data tallied corn shipments at just 1.656 MT (65.22 mbu) in the week that ended on June 5. That was back up 0.9% from the week prior and 23.55% above the same week last year. Mexico was the largest destination of 469,120 MT, with 287,774 MT headed to Taiwan and 200,434 MT to Sout Korea. Marketing year shipments are now 50.302 MMT (1.98 bbu), an increase of 28.54% from the same week last year.
AgRural estimates the Brazilian second corn crop at 1.9% harvested as of Sunday in the center-south region. Ukraine’s APK-Inform reduced their corn production forecast by 2.1 MMT to 24.9 MMT.
Jul 25 Corn closed at $4.33 1/2, down 9 cents,
Nearby Cash was $4.09 1/2, down 8 3/4 cents,
Sep 25 Corn closed at $4.22 1/4, down 11 cents,
Dec 25 Corn closed at $4.38, down 11 1/4 cents,
New Crop Cash was $3.94 1/2, down 11 cents,
