Corn price action is resuming trade on Tuesday morning with losses of 4 to 5 cents. Crude oil is a pressure factor, down $3.85 from Friday, as the US and Iran were inching closer to a deal over the weekend, though there is nothing set as of this morning. Futures closed the Friday session with contracts 1 to 2 cents higher, as July was up 7 ½ cents last week. December firmed up 5 ½ cents. Open interest was up 14,802 contracts on Friday. The CmdtyView national average Cash Corn price was up a penny to $4.23 1/2.
A couple private export sale announcements were reported on Friday morning, with 493,700 MT to Mexico (225,000 MT for 25/26 and 268,700 MT for 26/27) and 110,000 MT to unknown (50,000 for 25/26 and 60,000 MT for 26/27).
The weekly CFTC update from Friday showed managed money trimming back their net long by 6,129 contracts in the week ending on 5/19. That took their net long position in corn futures and options to 293,354 contracts.
USDA’s Export Sales data showed 79.873 MMT of corn sold for export for the 2025/26 marketing year (shipped or unshipped), which is 26% above the same period last year. That is 95% of the USDA export number and near the 96% average pace.
Jul 26 Corn closed at $4.63 1/4, up 1 cent, currently down 5 cents
Nearby Cash was $4.23 1/2, up 1 cents,
Sep 26 Corn closed at $4.69 3/4, up 1 1/4 cents, currently down 4 1/2 cents
Dec 26 Corn closed at $4.86 1/2, up 1 1/2 cents, currently down 4 cents
New Crop Cash was $4.39 3/8, up 1 1/4 cents,
