Corn futures are trading with 1 to 2 ½ cent losses across the front months on Tuesday. The CmdtyView national average Cash Corn price is down 1 3/4 cents at $3.79 1/4.
USDA reported a private export sale of 100,000 MT of corn to Mexico, with 30,000 MT for old crop and 70,000 MT for new crop.
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Monday’s Crop Progress report showed 97% of the US corn crop emerged by June 21, matching the 5-year average. The crop was also 5% silking, 2 points ahead of normal. US condition ratings were 68% in good to excellent condition, steady with the previous week, as the Brugler500 index unchanged at 373. By state, IN was up 17 points, with KS up 1, as MO ratings improved 5 points, and NE up 9. Deterioration was noted in IL (-7), IA (-5), MN (-4), ND 9(-1), and OH (-14),
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 is at $4.09 1/2, down 2 cents,
Nearby Cash is at $3.79 1/4, down 1 3/4 cents,
Sep 26 Corn is at $4.17 3/4, down 2 cents,
Dec 26 Corn is at $4.37 1/4, down 2 1/4 cents,
New Crop Cash is at $3.92 3/4, down 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.
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