Corn price action is up 2 to 3 cents in most contracts. Futures closed the Tuesday trade with contracts 1 ½ to 3 cents higher on the session. Preliminary open interest was down 3,986 contracts, mostly rolling out of May, down 28,957. May options expire on Friday. The CmdtyView national average Cash Corn price was up 2 1/4 cents at $4.18 1/2.
USDA reported two private sales of 2025/26 corn on Tuesday, one of 100,000 MT to Colombia and another of 195,000 MT to unknown destinations.
NASS Crop Progress data showed the US corn crop at 11% planted as of Sunday, which was 2% ahead of the 5-year average pace of 9%. Planting pace in IA was just 2% complete, lagging the 8% average, with the three main Eastern Corn Belt states well above normal. The crop was also 4% emerged, which is 2 percentage points faster than normal.
USDA’s Attache in Argentina increased their outlook on the corn production for the country to 60 MMT. That is well above the official USDA World Ag Outlook Board number at 52 MMT.
May 26 Corn closed at $4.53 3/4, up 1 3/4 cents, currently up 2 1/2 cents
Nearby Cash was $4.18 1/2, up 2 1/4 cents,
Jul 26 Corn closed at $4.62, up 1 3/4 cents, currently up 2 1/2 cents
Dec 26 Corn closed at $4.81 3/4, up 2 1/4 cents, currently up 2 cents
New Crop Cash was $4.39 5/8, up 2 1/2 cents,
