Corn futures rose 5‑7 cents on Monday, building on Friday’s gains after USDA reports showed a more favorable outlook. Prices advanced 2.5 to 10.25 cents across the board, with front‑month contracts leading the rally. September logged a 16.5‑cent weekly increase, while December added 19.5 cents. Open interest climbed by 10,355 contracts, indicating fresh buying interest. The CmdtyView national average cash corn price climbed 7.75 cents to $4.095.
NOAA’s latest 7‑day precipitation forecast projects scant rain across the northern Plains, extending from the Dakotas south through Kansas and into parts of Minnesota, Iowa, Illinois, and Missouri, with only trace amounts expected in Ohio and Indiana.
Friday’s monthly WASDE report indicated U.S. corn stocks for the 2025/26 marketing year fell by 125 million bushels to 2.02 billion bushels. The decline stemmed from a 150 million‑bushel rise in feed and residual use and a 25 million‑bushel reduction in ethanol consumption. New‑crop carryout dropped more than expected, falling 170 million bushels to 1.790 billion bushels, reflecting lower inventories and a 50 million‑bushel increase in exports.
Global corn inventories were reduced by 5.96 million metric tons to 275.26 MMT, driven largely by the U.S. cut and a 1 MMT decline in Chinese old‑crop stocks. European Union production fell 3.72 MMT to 53.78 MMT. Coceral revised its EU and UK corn production estimate down 4.5 MMT to 52.7 MMT. Meanwhile, Argentina’s 2025/26 output was upgraded by 2 MMT to 63 MMT.
CFTC data released Friday afternoon revealed that managed money traders shifted back to a net‑long position in corn futures and options during the week of July 7, primarily due to short covering. The swing added 58,868 contracts, resulting in a net‑long exposure of 12,659 contracts.
Jul 26 Corn closed at $4.38, up 10.25 cents, and is currently 9.5 cents higher.
Nearby Cash was $4.095, up 7.75 cents.
Sep 26 Corn closed at $4.395, up 8 cents, and is currently 5.25 cents higher.
Dec 26 Corn closed at $4.61, up 9 cents, and is currently 6.25 cents higher.
New Crop Cash was $4.1125, up 8.25 cents.
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