Corn

Corn futures closed the day 5 to 8 3/4 cents lower. The Monday morning export inspections report showed 1.219 MMT of corn was shipped during the week of June 15. That was 1.33% below last week, but was 13.61% larger than the same week in 2016. After the close the USDA released the Crop Progress report showing that 98% of the US corn crop was emerged as of Sunday, matching the average and 1% behind last year. Condition ratings saw good/excellent ratings unchanged at 67%, with the Brugler500 index up 2 points to 369 on a 2% shift from good to excellent. This Friday, China will sell 2.32 MMT of corn from state reserves.