Corn futures are trading with 1 to 2.5 cent losses across the front months on Tuesday. The CmdtyView national average Cash Corn price is down 1.75 cents at $3.7925.
The USDA reported a private export sale of 100,000 metric tons of corn to Mexico, with 30,000 metric tons for the old crop and 70,000 metric tons for the new crop.
Monday’s Crop Progress report showed 97% of the US corn crop emerged by June 21, matching the five-year average. The crop was also 5% silking, two points ahead of normal. US condition ratings were 68% in good to excellent condition, steady with the previous week, as the Brugler500 index remained unchanged at 373. By state, Indiana increased by 17 points, with Kansas rising 1 point, Missouri improved 5 points, and Nebraska up 9. Deterioration was noted in Illinois (-7), Iowa (-5), Minnesota (-4), North Dakota (-1), and Ohio (-14).
The weekly CFTC Commitment of Traders report showed managed money adding another 41,102 contracts of corn futures and options to their net short position, reaching 46,427 contracts as of last Tuesday.
On Monday, President Trump indicated that unfrozen Iranian funds will be used to purchase US agricultural products, including corn. Iranian corn imports for 2025/26 were 9.5 million metric tons, ranging from 6.8 to 9.8 million metric tons over the last decade.
July 26 Corn is trading at $4.0950, down 2 cents.
Nearby Cash Corn is at $3.7925, down 1.75 cents.
September 26 Corn is at $4.1775, down 2 cents.
December 26 Corn is at $4.3725, down 2.25 cents.
New Crop Cash Corn is at $3.9275, down 2 cents.
As of 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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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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