Corn price action is up 1 to 2 cents across the front months on Wednesday morning. Futures were mixed on Tuesday, with nearbys through September 2027 down 1 to 2 ¼ cents lower and deferreds fractionally to 2 ¼ cents higher. Open interest was down 14,813 contracts on Tuesday, mainly in July. The CmdtyView national average Cash Corn price was down 1 3/4 cents at $3.79 1/4.
USDA reported a private export sale of 100,000 MT of corn to Mexico on Tuesday, with 30,000 MT for old crop and 70,000 MT for new crop.
Monday’s Crop Progress report showed 97% of the US corn crop emerged by June 21, matching the 5-year average. The crop was also 5% silking, 2 points ahead of normal. US condition ratings were 68% in good to excellent condition, steady with the previous week, as the Brugler500 index unchanged at 373. By state, IN was up 17 points, with KS up 1, as MO ratings improved 5 points, and NE up 9. Deterioration was noted in IL (-7), IA (-5), MN (-4), ND 9(-1), and OH (-14),
On Monday, President Trump indicated unfrozen Iranian funds will be used to buy US ag products, including corn. He reiterated the statement in a media post overnight. Iranian corn imports in 2025/26 were 9.5 MMT, and have ranged from 6.8 to 9.8 MMT in the last decade.
Jul 26 Corn closed at $4.09 3/4, down 1 3/4 cents, currently up 1 1/4 cents
Nearby Cash was $3.79 1/4, down 1 3/4 cents,
Sep 26 Corn closed at $4.17 3/4, down 2 cents, currently up 1 3/4 cents
Dec 26 Corn closed at $4.37 1/4, down 2 1/4 cents, currently up 1 1/2 cents
New Crop Cash was $3.92 3/4, down 2 cents,
