The corn market is showing fractional to 2 cent losses across most contracts on Tuesday morning. Corn futures failed to get back above 0 by the close, as contracts were down 2 to 6 cents across most contracts on Monday weakness. Preliminary open interest was down 34,144 contracts on Monday, with 64,952 of that coming from May and July up 18,143 contracts. The nearby CmdtyView national average Cash Corn price was down 2 1/4 cents at $4.49 1/2. Spillover pressure came from the wheat market.

The EPA announced on Monday a waiver for E15 sales this summer starting on May 1.

Weekly Export Inspections data tallied corn shipments at 1.654MMT (65.14 mbu) in the week that ended on April 24. That was down 4.16% from the week prior but 27.44% above the same week last year. Mexico was the largest destination of 533,791 MT, with 376,788 MT headed to Japan, and just 211,129 MT to Colombia. Marketing year corn shipments are now 40.90 MMT (1.609 bbu), an increase of 28.98% from the same week last year.

Crop Progress data from Monday afternoon showed the US corn crop at 24% planted as of April 27, which is ahead of the 5-year average at 22% for that date. Emergence was pegged at 5%, 1 percentage point ahead of normal.

A Taiwan importer purchased 65,000 MT of US corn in a tender overnight. A South Korean import purchased a total of 66,000 MT of corn in a tender on Tuesday.

May 25 Corn  closed at $4.75 1/2, down 3 1/4 cents, currently down 1/4 cent

Nearby Cash  was $4.49 1/2, down 2 1/4 cents,

Jul 25 Corn  closed at $4.83 1/4, down 2 1/4 cents, currently down 1/2 cent

Dec 25 Corn  closed at $4.50 1/4, down 5 1/2 cents, currently down 2 cents

New Crop Cash  was $4.13, down 5 1/4 cents,