Corn price action rose 1 to 2 cents across front months on Wednesday, with near-term futures showing mixed movement Tuesday. Nearby contracts through September 2027 decreased 1 to 2¼ cents, while deferred options gained fractionally to 2¼ cents. Open interest fell 14,813 contracts on Tuesday, primarily in July. The CmdtyView national average Cash Corn price declined 1¾ cents to $3.79¼.
USDA disclosed a private export of 100,000 MT of corn to Mexico on Tuesday, split into 30,000 MT of old crop and 70,000 MT of new crop.
Monday’s Crop Progress report revealed 97% of the U.S. corn crop emerged by June 21, matching the five-year average. The crop progressed 5% silking, two points ahead of normal. USDA condition ratings showed 68% in good to excellent quality, stable from the prior week, with the Brugler500 index at 373. State-level improvements were noted in IN (+17 points), KS (+1), MO (+5), and NE (+9), while IL (-7), IA (-5), MN (-4), ND (-1), and OH (-14) saw declines.
President Trump stated unfrozen Iranian funds would be allocated to purchase U.S. agricultural products, including corn, in a recent media statement. Iranian corn imports for 2025/26 were 9.5 MMT, fluctuating between 6.8 and 9.8 MMT over the past decade.
July 26 corn closed at $4.09¼, down 1¾ cents, currently up 1¼ cents. Nearby Cash corn traded at $3.79¼, down 1¾ cents. September 26 corn settled at $4.17¼, down 2 cents, currently up 1¾ cents. December 26 corn closed at $4.37¼, down 2¼ cents, currently up 1½ cents. New Crop Cash corn was $3.92¼, down 2 cents.
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