Corn futures are down 1 to 2 cents early on Tuesday. The corn market rounded out the Monday session with contracts posting fractional to 2 ¼ cent losses. Preliminary interest continues to show some mew selling interest, up 15,821 contracts on Monday. The CmdtyView national average Cash Corn price was 2 ¼ cents lower at $3.69 1/2. December has averaged a $4.18 close since the first of October.
Amid the government shutdown, Monday is Columbus Day, a federal holiday. Thus, the Export Inspections report is pushed back to Tuesday morning. With the shutdown, we won’t be getting a Crop Progress report, though a Reuters survey estimates the crop at 44% harvested.
Taiwan tendered for up to 65,000 MT of corn, with a Wednesday deadline for offers.
CONAB raised their estimate for the 2025/26 crop by 0.32 MMT to 138.6 MMT in their latest release this morning.
Dec 25 Corn closed at $4.10 3/4, down 2 1/4 cents, currently down 1 1/4 cents
Nearby Cash was $3.69 1/2, down 2 1/4 cents,
Mar 26 Corn closed at $4.27 1/4, down 1 3/4 cents, currently down 1 1/2 cents
May 26 Corn closed at $4.36 1/2, down 1 1/2 cents, currently down 1 1/4 cents
