US Corn Prices Rise Amid Increased Deliveries
Corn futures closed August on an upward trend, with prices ranging from 1 to 3.5 cents higher on the session. This comes as a result of 90 deliveries issued against September corn on First Notice Day.
The national average Cash Corn price also saw a significant increase, rising by 3.5 cents to $4.93.5 per unit.
According to the Crop Progress report, 62% of the US corn crop had reached the dough stage as of August 30, with 13% listed as mature. Condition ratings remained steady at 47%, and the Brugler500 index dipped by another point to 347.
The Export Inspections report showed a notable increase in corn shipments, up 13.11% from the previous week and 6.12% above the same period last year. Mexico was the largest recipient of these shipments, followed closely by South Korea and Japan.