Corn price action is 1 to 3 cents lower so far Tuesday morning, while more than a nickel from overnight lows. Futures were 5 to 9 ½ cents lower in the early months on Monday, well off overnight highs. Early open interest rose 38,787 contracts on Monday, the most in December (+30,379). Overnight, 156 deliveries were issued against March corn. CmdtyView’s national average cash corn price fell 8 cents to $4.10. Crude oil closed $5.85 lower for the day and more than $33 above its overnight high. It’s down another $5.44 this morning. President Trump hinted that the ongoing conflict could end on Monday, which further pushed up prices.
The USDA FGIS reported corn exports for the week ending March 5 at 1.518 MMT (59.75 mbu). This was 18.4% lower than the previous week and 17.7% shy of the same week last year. Mexico was the top destination with 497,964 MT, 243,022 MT to Japan and 203,726 MT to Colombia. Exports for the 2025/26 marketing year as of September 1 are 41.21 MMT (1.622 bbu), now up 41.54% from the same period last year.
With the USDA WASDE due out this morning, traders are looking for ending corn stocks for the US at 2.136 bbu, if realized to rise 9 mbu. Brazil’s production is expected to be ~1 MMT to 132.07 MMT
March 26 corn closed at $4.37 1/2, down 9 1/2 cents, currently down 2 3/4 cents
Closest cash was $4.10, down 8 cents.
May 26 corn closed at $4.53 3/4, down 6 3/4 cents, currently down 1 3/4 cents
July 26 corn closed at $4.65 1/2, down 5 1/2 cents, currently down 2 cents.
As of the date of publication, Austin Schroder had no positions (either directly or indirectly) in the securities mentioned in this article. All information and data in this article are for informational purposes only. This article was originally published on Barchart.com
