Corn Futures Rebound on Monday Despite Slowing Shipments

Corn futures ended Monday's session on a positive note, despite dipping from their early highs. The CmdtyView national average Cash Corn price increased by 7 3/4 cents to $4.63.

The weekly Crop Progress report showed that 86% of the US corn crop is in the dough stage as of August 23, with 45% dented and 6% mature. Condition ratings declined 3%, with only 47% rated good or excellent, according to the Brugler500 index.

The Export Inspections report revealed a significant drop in corn shipments, down 33.32% from the previous week and 3.16% below the same period last year. Mexico was the largest recipient of corn, followed by Japan and Colombia.