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IPC Index — Mexico MarketCorn futures saw weakness for much of Monday, with contracts down 1 to 2 cents in the nearbys, pulling off early lows. The CmdtyView national average Cash Corn price was down a penny to $3.95.
A private export sale of 150,320 MT of corn was sold to unknown destinations this morning.
USDA tallied corn export shipments at 1.589 MMT (62.32 mbu) during the week ending on December 11. That was 9.07% below the week prior’s revised total and 37.25% larger than the same week in 2024. Mexico was the top destination of 488,231 MT, with 301,240 MT headed to Japan and 219,729 MT to Spain. Marketing year exports for 2025/26 are now 22.501 MMT (885.84 mbu) since September 1, which is now 68.74% larger than the same period last year. USDA also reported 71,917 MT of sorghum to China.
Export Sales data got another catchup this morning, with a total of 1.84 MMT of corn booked in the week of 11/20. That was on the higher end of traders looking for 1.1-2.2 MMT. That was a drop from the week prior, but still 73.4% larger than the same week last year.
Another update to the backlogged CFTC data this afternoon showed managed money flipping back to a net short of 10,872 contracts in the week ending on November 25 a move of 48,999 contracts to the short side.
Mar 26 Corn closed at $4.39 3/4, down 1 cent,
Nearby Cash was $3.95, down 1 cent,
May 26 Corn closed at $4.47 3/4, down 1 1/4 cents,
Jul 26 Corn closed at $4.53 3/4, down 1 1/4 cents,
