Corn futures fell on Monday, with contracts down 2.5 to 6 cents across the board. The CmdtyView national average cash corn price slipped 5.75 cents to $3.8175.
According to Monday’s Crop Progress report, 97% of the U.S. corn crop had emerged by June 21, matching the five‑year average. U.S. condition ratings remained steady at 68% good‑to‑excellent, and the Brugler500 index held unchanged at 373.
USDA’s Foreign Agricultural Service reported that corn export shipments totaled 1.454 million metric tons (57.25 million bushels) for the week ending June 18, a 11.87% decline from the prior week and 3.31% below the year‑ago level. Mexico was the leading destination at 479,329 MT, followed by Japan (299,364 MT) and South Korea (289,029 MT). Marketing‑year exports for 2025/26 now stand at 67.08 MMT (2.64 billion bushels), 25.21% above the same period last year.
In the latest CFTC Commitment of Traders report, managed money expanded their net short position by another 41,102 contracts, pushing the total to 46,427 contracts as of last Tuesday.
Safras now estimates Brazilian corn production at 139.94 MMT, 0.18 MMT lower than the previous projection. Meanwhile, AgRural reports that 16% of the second corn crop has been harvested in the Center‑South region.
Key contract prices for late‑June delivery were: Jul 26 Corn at $4.115, down 6 cents; nearby cash at $3.8175, down 5.75 cents; Sep 26 Corn at $4.1975, down 5.5 cents; Dec 26 Corn at $4.395, down 4.5 cents; and New Crop cash at $3.9475, down 5 cents.
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