Corn prices rose significantly on Monday morning, with futures climbing 7 to 8 cents following a strong closing performance on Friday. Market participants pushed contracts up 2 ¼ to 3 ½ cents across most contracts, with September futures posting a weekly gain of 5 ¼ cents and December up 6 ½ cents. Open interest increased by 9,822 contracts on Friday, signaling modest new buying activity. The CmdtyView national average Cash Corn price rose 3 ¼ cents to $4.132.
National Weather Service forecasts indicate 1-2 inches of precipitation expected in much of Nebraska, Missouri, parts of Southern/Eastern Iowa, and western Illinois, while the remainder of the Corn Belt sees limited rainfall.
USDA’s Export Sales report revealed old crop corn sales totaling 86.279 million metric tons (MMT), representing 102% of USDA’s export projection and surpassing the previous three years. Actual shipments reached 73.058 MMT, achieving 87% of the USDA projection, compared to 86% last year. New crop sales for 2026/27 accumulated to 6.859 MMT, also 14.5% above the same period last year.
CFTC data from Friday showed managed money funds increased their net long position in corn futures and options by 30,732 contracts in the week ending July 14, primarily through short covering. The net long position reached 43,391 contracts as of Tuesday.
Brazil’s AgRural estimates 49% of the second corn crop has been harvested, slightly behind last year’s 55% pace. The total Brazilian corn crop is projected at 144.96 MMT for 2026/27, an increase of 4.59 MMT from the previous year. In Argentina, the Buenos Aires Grain Exchange reported 62% of the corn crop harvested, lagging behind the 80% pace from the previous year.
Current prices reflect upward momentum: September 26 corn closed at $4.44 3/4 (+3 ¼ cents), with intraday gains of 7 ¼ cents. Nearby cash prices stood at $4.13 1/1 (+3 ¼ cents). December 26 corn closed at $4.67 1/2 (+3 ½ cents), up 7 ¾ cents intraday, while March 27 corn reached $4.83 (+3 ½ cents) with an 8-cent gain.
New crop cash prices rose 3 3/4 cents to $4.17 1/8.
