Corn prices are up ¾ cent to a penny so far on Tuesday AM trade. Futures closed the Monday session with contracts down 2 ½ to 6 cents across the board. Open interest was down 7,396 contracts on Monday, mainly in the July, down 34,813 contracts. 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.
On Monday, President Trump indicated unfrozen Iranian funds will be used to buy US ag products, including corn. Iranian corn imports in 2025/26 were 9.5 MMT, and have ranged from 6.8 to 9.8 MMT in the last decade.
Jul 26 Corn closed at $4.11 1/2, down 6 cents, currently up 1 cent
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, currently up 3/4 cent
Dec 26 Corn closed at $4.39 1/2, down 4 1/2 cents, currently up 1 cent
New Crop Cash was $3.94 3/4, down 5 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.
