Corn price action is shooting 11 to 14 ¾ cents higher so far on Monday morning, as the forecasts shift warmer. Futures were mixed on Thursday, with front months ¼ to 4 cents higher and deferreds down as much as 2 3/4 cents. September was up just 1 ¼ on the 4-day week, with December steady. Modest short covering was noted on Thursday, down 5,828 contracts mainly in the front three contracts. There were 150 deliveries issued against July futures on Thursday evening. The CmdtyView national average Cash Corn price was 1/4 cent higher at $3.93 3/4.
The 7-day forecast shows rainfall totals of 1 to 3 inches across parts of the Dakotas and MN, mainly in the next couple days. Eastern Corn Belt totals are a half inch to 2 inches in the next week. Temps for the next couple weeks are looking at above normal temps.
Export Sales data was released on Thursday morning showing a total of 732,070 MT of old crop corn sales in the week of 6/25. That was a slight drop from last week and 37.4% larger than the same week last year. Mexico was the largest buyer of 261,000 MT, with 201,100 MT headed to Colombia and 169,200 MT to Portugal. New crop business was tallied at 767,756 MT. That was a 3-week high and 18.3% below the same week last year. The primary buyer was Mexico at 272,700 MT, with 189,500 MT to unknown destinations. Accumulated 2026/27 sales are now 6.147 MMT, which is 35.6% above a year ago.
Brazil’s second corn crop was tallied at 30% harvested in the center-south region as of last Thursday. The country’s trade data showed 435,498 MT of corn shipped during June, up from 369,533 MT last year.
Jul 26 Corn closed at $4.25, up 4 cents, currently up 14 3/4 cents
Nearby Cash was $3.93 3/4, up 1/4 cent,
Sep 26 Corn closed at $4.23, up 1/4 cent, currently up 12 cents
Dec 26 Corn closed at $4.41 1/2, down 3/4 cent, currently up 13 1/4 cents
New Crop Cash was $3.98 3/8, up 3 3/4 cents,
