Corn price action is just fractionally higher on Tuesday morning trade. Futures were in retreat mode on Monday with contracts down 2 ½ to 13 ½ cents, across the board, led be the front months. Open interest was down 14,035 contracts, mainly in September and December. Contracts were pressured by an improving weather forecast and $7.40 losses in crude oil. The CmdtyView national average Cash Corn price was down 12 1/2 cents at $4.21 1/4.
Monday’s Crop Progress report showed 78% of the US corn crop silking by July 26, 4 percentage points ahead of the 5-year average, with 25% in the dough stage. US condition ratings fell 4% at 63% in good to excellent condition, as the Brugler500 index were down 11 points to at 361.
USDA’s FGIS tallied corn export shipments at 1.488 MMT (58.58 mbu) during the week ending on July 23. That was 7.74% below week prior and 2.88% below the same week last year. Mexico was the top destination of 454,201 MT, with 252,204 MT headed to Japan and 236,112 MT to Colombia. Marketing year exports for 2025/26 are 75.324 MMT (2.965 bbu), which is now 24.81% above the same period last year.
The NOAA 7-day QPF shows 1 to 2 inches across much of IA, MO, and IL over in the next week. Eastern SD/NE and southern MN are seen with 1 to 2 inches. OH and IN are seen with lighter totals.
Sep 26 Corn closed at $4.51 3/4, down 12 1/2 cents, currently up 3/4 cent
Nearby Cash was $4.21 1/4, down 12 1/2 cents,
Dec 26 Corn closed at $4.74, down 13 1/2 cents, currently up 3/4 cent
Mar 27 Corn closed at $4.89 1/2, down 13 1/2 cents, currently up 3/4 cent
New Crop Cash was $4.25 3/4, down 12 3/4 cents,
