Corn futures closed the Tuesday trade with contracts 1 ½ to 3 cents higher on the session. The CmdtyView national average Cash Corn price was up 2 1/4 cents at $4.18 1/2.
USDA reported two private sales of 2025/26 corn this morning one of 100,000 MT to Colombia and another of 195,000 MT to unknown destinations.
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NASS Crop Progress data showed the US corn crop at 11% planted as of Sunday, which was 2% ahead of the 5-year average pace of 9%. Planting pace in IA was just 2% complete, lagging the 8% average, with the three main Eastern Corn Belt states well above normal. The crop was also 4% emerged, which is 2 percentage points faster than normal.
USDA’s Attache in Argentina increased their outlook on the corn production for the country to 60 MMT. That is well above the official USDA World Ag Outlook Board number at 52 MMT.
May 26 Corn closed at $4.53 3/4, up 1 3/4 cents,
Nearby Cash was $4.18 1/2, up 2 1/4 cents,
Jul 26 Corn closed at $4.62, up 1 3/4 cents,
Dec 26 Corn closed at $4.81 3/4, up 2 1/4 cents,
New Crop Cash was $4.39 5/8, up 2 1/2 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.