Corn Rallies to End Higher Despite Declining Ratings

Corn Futures and Market Trends: Corn futures experienced gains of 2 to 5 cents, closing at $4.03 for September, while cash corn prices fell to $3.79. The USDA reported a 5.12% increase in corn export shipments compared to the previous week, with total exports for the marketing year up 28.61% from last year.

Crop Progress and Production Data: As of August 31, 90% of the US corn crop was in the dough stage, slightly behind the 5-year average, with 69% rated good/excellent. The NASS report indicated a 2% increase in corn used for ethanol production in July compared to June, but a 5.8% decrease from the previous year.