Corn prices are down another 1 to 2 cents so far on Friday morning after a week of losses. Futures continued their death spiral liquidation from the last few weeks, with contracts down another 5 to 8 1/4 cents at the close. Preliminary open interest was up 7,393 contracts on Thursday, mainly in September (+11,429). The CmdtyView national average Cash Corn price was 7 cents at $3.90. Crude oil losses of $3.11 added some pressure.
Weekly Export Sales data showed 883,332 MT in old crop corn sales during the week of 5/28, down 13% from the week prior and 6.3% below the same week last year. Japan was the buyer of 336,300 MT, with 243,900 MT sold to Mexico. New crop business was seen at 243,716 MT, a 3-week low for 2026/27 business. The largest buyer was Costa Rica at 117,400 MT, with 70,600 MT sold to unknown destinations.
The NOAA 7-day forecast showed 1-2 cent losses in parts of IA through IN and MO, with spottier totals in MN, WI, MI, and OH.
Brazilian corn exports totaled 250,449 MT in May according trade ministry data, well above the 38,928 MT in May 2025. The Buenos Aires Grains Exchange estimates the Argentina corn crop at 40.6% harvested, with their production estimate unchanged at 64 MMT.
Jul 26 Corn closed at $4.24 1/2, down 7 cents, currently down 2 1/2 cents
Nearby Cash was $3.90, down 7 cents,
Sep 26 Corn closed at $4.32 3/4, down 7 1/2 cents, currently down 1 3/4 cents
Dec 26 Corn closed at $4.51 3/4, down 8 cents, currently down 2 cents
New Crop Cash was $4.05 3/8, down 7 3/4 cents,
