Corn price action is down 1 to 2 ¼ cents so far on Tuesday AM trade. Futures saw some pressure on Monday ahead of the end of March USDA reports on Tuesday, with contract closing down 3 ½ to 6 ¼ cents. Open interest suggested new selling interest, up 8,424 contracts, mainly in the old crop, with the new crop December down 8,060 contracts. The CmdtyView national average Cash Corn price was down 6 cents to $4.13 1/2.
USDA reported a private export sale of 145,000 MT of corn to unknown destinations on Monday morning.
USDA’s FGIS tallied corn export shipments at 1.789 MMT (70.45 mbu) during the week ending on March 26. That was 5.1% above the week prior and 4.14% larger than the same week last year. Mexico was the top destination of 369,416 MT, with 326,353 MT headed to Japan and 278,764 MT to South Korea. Marketing year exports for 2025/26 are 46.37 MMT (1.826 bbu) since September 1, which is now 36.11% ahead of the same period last year. China was the destination for 179,243 MT of sorghum.
Ahead of the USDA March Intentions report this morning, traders are looking for 94.37 million acres of corn to be reported by NASS. That would be a 4.4 million decline from last year if realized. Grain Stocks data is expected to be tallied at 9.104 billion bushels for March 1, which would be up 957 million bushels from a year ago if realized.
May 26 Corn closed at $4.55 3/4, down 6 1/4 cents, currently down 1 1/2 cents
Nearby Cash was $4.13 1/2, down 6 cents,
Jul 26 Corn closed at $4.67 1/2, down 6 cents, currently down 2 cents
Dec 26 Corn closed at $4.84, down 6 1/4 cents, currently down 2 1/4 cents
New Crop Cash was $4.42 3/4, down 6 cents,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
