Corn price action remained steady on Wednesday morning. Futures built on Tuesday’s rally, with contracts gaining between 3.5 and 6.75 cents, while July contracts rose just 1.75 cents. Open interest indicated additional short covering, falling by 3,120 contracts on Tuesday. Only a single delivery notice was issued for July futures overnight. The national average cash corn price, according to CmdtyView, increased by a nickel to $4.13¾.
According to the weekly Crop Progress report, 16% of the U.S. corn crop had reached silking by July 5, which is two percentage points ahead of the five‑year average, with 3% already in the dough stage. Condition ratings stayed at 67% good‑to‑excellent, and the Brugler500 index held steady at 371. Gains in the index were seen in Michigan (+19), Minnesota (+7), South Dakota (+5), Missouri (+4), and Iowa (+1). Declines were recorded in Texas (‑14), Ohio (‑12), Nebraska/Illinois/Kansas (‑5 each), North Dakota (‑4), and Indiana (‑2).
Monthly Census data revealed that corn exports for May totaled 7.252 million metric tons (284.5 million bushels), falling short of the 2020/21 record and marking the third‑largest May on record. Compared with the same month last year, exports were up 0.18% but down 3.62% from the prior year. Distillers’ grain exports reached 1.081 million metric tons, the second‑largest May ever. Ethanol exports hit a record 189.65 million gallons, up 6.59% year‑over‑year and 7.22% above April levels.
July 2026 corn futures settled at $4.42½, up 1.75 cents, and were currently trading 1.25 cents higher.
Nearby cash corn was quoted at $4.13¾, up 5 cents.
September 2026 corn futures closed at $4.43¾, up 5.5 cents, and were trading 0.5 cents lower.
December 2026 corn futures settled at $4.64¼, up 6.5 cents, and were currently 0.25 cents higher.
New‑crop cash corn was at $4.15⅞, up 4 cents.
