Corn futures are trading with gains at Monday’s midday, with front months fractionally high and new crop up 3 to 4 cents. The front month CmdtyView national average Cash Corn price is up 3/4 cents at $4.16 ¼.

Weekly Export Inspections data tallied corn shipments at 1.719 MMT (67.68 mbu) in the week that ended on May 15. That was back up 32.22% from the week prior and 39.06% above the same week last year. Mexico was the largest destination of 566,535 MT, with 269,983 MT headed to Japan. Other top destinations were Taiwan (144,804 MT), Colombia (144,800 MT), and South Korea (140,142 MT). Marketing year shipments are now 45.543 MMT (1.793 bbu), an increase of 29.21% from the same week last year.

Crop Progress data is expected to show the US corn crop at 78% planted based on an average of analysts surveyed by Bloomberg, with a range of 73%-87%. 

The Friday afternoon Commitment of Traders report from CFTC showed the managed money spec funds flipping from a net long to a new net short position of 84,976 contracts. That was a bear move of 98,869 contracts during the week that ended on May 13. 

Jul 25 Corn is at $4.44, up 1/2 cent,

Nearby Cash is at $4.16 1/4, up 3/4 cent,

Sep 25 Corn is at $4.25 1/4, up 3 3/4 cents,

Dec 25 Corn is at $4.38 1/2, up 3 cents,

New Crop Cash is at $3.96 1/2, up 3 1/2 cents,