Corn prices are showing 13 to 16 gains early on Monday morning. Futures closed the Friday session with contracts falling 7 to 11 ¾ cents as July ended with losses of 15 ½ cents on the week. December was 12 ½ cents lower last week. Open interest was down 13,481 contracts, suggesting some long were coming off the table. The CmdtyView national average Cash Corn price was down 11 cents to $4.16 3/4.
On Sunday, the White House released a fact sheet on the US/China talks from last week, in part stating that “China will purchase at least $17 billion per year of U.S. agricultural products in 2026 (prorated), 2027, and 2028, in addition to the soybean purchase commitments that it made in October 2025.”
The weekly CFTC update from Friday showed managed money paring back their net long by 44,442 contracts in the week ending on 5/12. That took their net long position in corn futures and options to 299,483 contracts.
Export Sales data showed total corn commitments at 77.748 MMT as of May 7 after last week’s disappointing number. That is still a 25% increase yr/yr and is now 93% of the USDA forecast compared to the 95% average sales pace. Export shipments are 55.8 MMT, which is 69% of that number and running ahead of the 66% average pace. US FOB prices are still competitive on the world market, though a larger Argentina crop is cutting into that.
Sep 26 Corn closed at $4.63, down 11 1/4 cents, currently up 16 cents
Nearby Cash was $4.15 1/4, down 11 1/2 cents,
Dec 26 Corn closed at $4.81, down 10 1/4 cents, currently up 15 cents
Mar 27 Corn closed at $4.95 1/2, down 9 1/4 cents, currently up 13 1/4 cents
New Crop Cash was $4.33 5/8, down 10 3/4 cents,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
