Corn futures are trading with 5 to 7 cent losses across most contracts on Monday, as the markets are taking a risk off approach. The national average Cash Corn price from cmdtyView is down 6 1/4 cents at $4.45.
USDA reported a private export sale of 139,000 MT of corn to Mexico this morning for 2024/25 shipment.
On Sunday, President Trump threatened an emergency 25% tariffs on all Columbian goods and sanctions after the country rejected two deportation flights already in the air. Columbia, a large US corn and ethanol buyer, threatened a retaliatory tariff of 25%. After Columbia agreed to all of the US President’s terms, President Trump put the tariffs and sanctions in reserve, unless Columbia doesn’t honor such agreement.
Export Inspections data from USDA tallied corn shipments at 1.247 MMT (49.09 mbu) in the week that ended on January 23. That was an increase of 34.61% from the same week last year but down 19.15% from the previous week. Of that total, 317,292 MT was headed to Japan, with 314,195 MY shipped to Mexico. Marketing year shipments have totaled 20.497 MMT (806.92 mbu).
Commitment of Traders data from CFTC showed managed money spec funds in corn futures and options adding 19,450 contracts to their net long position as of 1/21 to 311,678 contracts.
Brazil’s first corn crop was pegged at 9% harvested as of last Thursday in the Center-South region. Planting of the second crop was listed at 2.2% complete.
Mar 25 Corn is at $4.80 1/4, down 6 1/4 cents,
Nearby Cash is at $4.45, down 6 1/4 cents,
May 25 Corn is at $4.90, down 6 1/2 cents,
Dec 25 Corn is at $4.55, down 6 cents,
New Crop Cash is at $4.25 1/1, down 6 3/4 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.