Corn prices are trading with gains of a penny across most front months to start Tuesday trade. Futures posted losses of 1 to 2 ¼ cents on Monday, fading back from the Friday gains. Preliminary open interest was down 2,400 contracts, as March was down 8,571 contracts and the rest rising. The CmdtyView national average Cash Corn price was down 2 1/4 cents at $3.91 1/4.
USDA’s FGIS tallied corn export shipments at 1.51 MMT (59.45 mbu) during the week ending on January 22. That was 1.63% larger than the week prior and 20.74% above the same week last year. Mexico was the top destination of 402,936 MT, with 265,122 MT headed to Japan and 210,763 MT to Spain. Marketing year exports for 2025/26 are 31.437 MMT (1.24 bbu) since September 1, which is now 53.35% larger than the same period last year.
Export Sales data updated last Friday has corn export commitments at 56.045 MMT, which is 34% ahead of last year. That is 69% of the record USDA export estimate and ahead of the 65% average pace.
AgRural estimates the first corn crop in the center south regions of Brazil at 5% harvested, ahead of the 2.2% pace last year. The second crop is pegged at 4.7% planted as of last Thursday, behind the 8.6% early pace in 2024/25. They raised their estimate for the country’s corn crop by 0.6 MMT to 136.6 MMT.
Mar 26 Corn closed at $4.28 1/4, down 2 1/4 cents, currently up 1 cent
Nearby Cash was $3.91 1/4, down 2 1/4 cents,
May 26 Corn closed at $4.36, down 2 cents, currently up 1 cent
Jul 26 Corn closed at $4.42, down 1 3/4 cents, currently up 1 cent
