Front month corn futures ended the session 8 to 9 1/4 cents weaker. March closed at the low of $5.47 1/2. New crop contracts ended 2 to 3 3/4 cents weaker, eating into some of the inverse. December corn is still a 69 1/2 cent discount to May at $4.68 3/4.

The monthly Grain Crush report showed 415.8 mbu of corn used for ethanol production in Jan. That was 3.7% below December’s use and was 11.43% below Jan 2020. DDGS production in January was 1.75m tons, down from 1.79 in December.

USDA’s Export Inspections report showed 1.637 MMT of corn shipped in the week ending 2/25. That was up from 1.267 MMT last week and remains 83% ahead of the same week last year. Japan was the top destination with 21.5% of the total, China was the second largest destination with 21.2% of the total.

Ag Rural noted that Brazil’s second corn crop planting progressed 15% on the week to 39%. That trails the 67% average pace. Mato Grosso (Brazil) second crop corn planting is estimated to be 55% of record intended acreage. The average pace would be 92% for this date. 

--- provided by Brugler Marketing & Management

Corn Prices by Barchart