Corn futures extended their rally into Tuesday, with contracts closing 3½ to 6¾ cents higher. The July contract rose just 1¾ cents, while the national average cash corn price, as reported by CmdtyView, increased a nickel to $4.13¾.
The weekly Crop Progress report indicated that 16% of the U.S. corn crop had silked by July 5, two percentage points ahead of the five‑year average, with 3% already in the dough stage. Condition ratings remained steady at 67% good‑to‑excellent, and the Brugler500 index held at 371. Gains were seen in Michigan (+19), Minnesota (+7), South Dakota (+5), Missouri (+4), and Iowa (+1), while losses occurred in Texas (−14), Ohio (−12), Nebraska/Illinois/Kansas (−5), North Dakota (−4), and Indiana (−2).
Monthly Census data showed corn exports for May at 7.252 MMT (284.5 million bushels), shy of the 2020/21 record but still the third‑largest May on record. Exports were up 0.18% year‑over‑year yet down 3.62% compared with the prior year’s figure (reflecting a slight volatility). Distillers’ grain exports reached 1.081 MMT, marking the second‑largest May ever, and ethanol exports hit a record 189.65 million gallons—up 6.59% from last year and 7.22% above April levels.
Specific contract settlements on July 26 were as follows: July 2026 corn closed at $4.42½, up 1¾ cents; nearby cash was $4.13¾, up 5 cents; September 2026 corn settled at $4.43¾, up 5½ cents; December 2026 corn finished at $4.64¼, up 6½ cents; and new‑crop cash stood at $4.15⅞, up 4 cents.
