Corn Futures Rise Early Week on Export Sales and Strong Crop Progress

Corn futures closed Monday’s trading session with gains of 2 to 5½ cents, ending the day at $4.49½. The CmdtyView national average cash corn price rose by 5 cents to $4.18¾.

The USDA reported a private export sale of 100,000 metric tons of corn to Colombia for delivery in the 2026/27 marketing year.

The weekly Crop Progress report indicated that 59% of the U.S. corn crop had reached the silking stage by July 19, exceeding the five-year average by 5 percentage points, with 13% in the dough stage. Condition ratings declined slightly to 67% rated good to excellent, while the Brugler500 index fell 1 point to 372.

Corn shipments for the week ending July 16 totaled 1.55 million metric tons (60.7 million bushels), reflecting a modest 0.31% decrease from the previous week but a robust 57.36% increase compared to the same period last year. Year-to-date shipments now stand at 73.77 million metric tons (2.904 billion bushels), marking a 25.42% year-over-year rise.

The National Oceanic and Atmospheric Administration’s (NOAA) updated 7-day Quantitative Precipitation Forecast predicts 1 to 2 inches of rainfall expected across Nebraska, Missouri, and parts of southern and eastern Iowa and Illinois, while precipitation remains patchy in the eastern Corn Belt.

Brazil’s AgRural estimates that 49% of the Brazilian second corn crop has been harvested, trailing behind the 55% pace recorded during the same period last year.

Key price points at the close included September corn at $4.49½, up 4¾ cents, with nearby cash at $4.18¾, up 5 cents. December corn closed at $4.73, up 5½ cents, while March 2027 corn stood at $4.88½, also up 5½ cents. New crop cash corn was quoted at $4.21¼, up 4 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.

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