Corn Closes in Black on Monday
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 ZCK24 - Corn
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At the closing bell for the Monday session, corn futures were 6 1/2 to 8 cents higher. New crop prices were stronger, gaining as much as 1.56% on weather concerns ahead of the planting progress update from USDA.

US corn planting reached 8% of the expected area through 4/18. That was up from 4% planted LW, and matches the 5-yr average. Corn was reported at 2% emerged, with half of the TX crop emerged. The national average is for 1% emergence, and for TX corn to be 47% emerged. The weekly report also showed 15% of the season’s sorghum crop is planted as planting in TX reached 51% of expected area.

NOAA sees a +90% probability of more than 1” of snow accumulation for 4/19 from Wyoming through Central KS. In IA, NOAA sees less than 10% probability of 1” or more. The system pushes North East through the ECB with ~1” accumulated snow fall in IL and IN by 4/21. Morning temperatures are expected to remain 20-30 through Thursday for all plains states and IA. Soil temps at 4” depth were reported in mid to low 40s across NE, KS, and IA at 7 AM.

USDA’s weekly Export Inspections report showed 1.525 MMT of corn shipped during the week ending 4/15. That was down from 1.728 MMT LW, but above the 731k MT from the same week last year. China was the top destination for the week’s corn export, with 37% of the total. Milo shipments were reported at 314,699 MT for the week, exclusively to China.

May 21 Corn  closed at $5.92, up 6 1/2 cents,

Jul 21 Corn  closed at $5.80 1/2, up 6 3/4 cents,

Nearby Cash was $5.82 2/3, up 6 3/4 cents,

Dec 21 Corn  closed at $5.20 1/4, up 8 cents,

New Crop Cash was $4.92 1/1, up 8 cents,




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