Corn futures are showing 4 to 7 cent gains across most contracts on the Monday session following a slew of export announcements this AM. The national average Cash Corn price from cmdtyView is up 5 1/4 cents at $3.78 1/2 per bu. 

USDA reported several private export sales this morning, with 169,926 MT sold to Mexico, 130,000 MT sold to South Korea, and 198,192 MT sold to unknown destinations. 

This morning’s Export Inspections report tallied 999,811 MT (39.36 mbu) in the week that ended on October 17. That was more than double the same week last year and up 97.35% from the week prior. Of the total, 565,254 MT was headed to Mexico, with 132,799 MT on its way to Columbia. That took the marketing year total to 5.795 MMT (228.14 mbu), up 30.61% above the same week last year and the largest since the 2018/19 marketing year. 

The weekly Commitment of Traders report showed spec funds back to building their net short position by 63,259 contracts in the week that ended on October 15. That took their net short to 86,988 contracts by Tuesday. Commercials were busy adding longs, likely via user hedging, with their net short back down 59,574 contracts to 133,036 contracts.

Brazil’s first corn crop is now 48% planted as of Thursday according to AgRural. 

Dec 24 Corn is at $4.10, up 5 1/4 cents,

Nearby Cash is at $3.78 1/2, up 5 1/4 cents,

Mar 25 Corn is at $4.23 1/2, up 4 1/2 cents,

May 25 Corn is at $4.31, up 4 1/2 cents,