Corn futures closed the Monday session with contracts down 2 ½ to 6 cents across the board. The CmdtyView national average Cash Corn price was down 5 3/4 cents at $3.81 3/4.
Monday’s Crop Progress report showed 97% of the US corn crop emerged by June 21, matching the 5-year average. US condition ratings were 68% in good to excellent condition, steady with the previous week, as the Brugler500 index unchanged at 373.
USDA’s FGIS tallied corn export shipments at 1.454 MMT (57.25 mbu) during the week ending on June 18. That was down 11.87% from the week prior and 3.31% below the same week last year. Mexico was the top destination of 479,329 MT, with 299,364 MT headed to Japan and 289,029 MT to South Korea. Marketing year exports for 2025/26 are 67.08 MMT (2.64 bbu), which is now 25.21% above the same period last year.
The weekly CFTC Commitment of Traders report showed managed money adding another 41,102 contracts of corn futures and options to their new net short to 46,427 contracts as of last Tuesday.
Safras estimates the Brazilian corn production at 139.94 MMT, which was down 0.18 MMT from the previous number. AgRural estimates the second corn crop at 16% harvested in the Center-South region.
Jul 26 Corn closed at $4.11 1/2, down 6 cents,
Nearby Cash was $3.81 3/4, down 5 3/4 cents,
Sep 26 Corn closed at $4.19 3/4, down 5 1/2 cents,
Dec 26 Corn closed at $4.39 1/2, down 4 1/2 cents,
New Crop Cash was $3.94 3/4, down 5 cents,
