Corn futures are down 3 to 7 cents across most contracts, falling from the overnight highs. There were 241 deliveries issued against March corn on Friday night. The CmdtyView national average Cash Corn price is down 6 1/2 cents to $4.12 3/4. Crude oil is up just $3.97 at midday and nearly $25 from the overnight highs.
USDA’s FGIS tallied corn export shipments at 1.518 MMT (59.75 mbu) during the week ending on March 5. That was 18.4% below the week prior and 17.7% shy of the same week last year. Mexico was the top destination of 497,964 MT, with 243,022 MT headed to Japan and 203,726 MT to Colombia. Marketing year exports for 2025/26 are 41.21 MMT (1.622 bbu) since September 1, which is now 41.54% above the same period last year.
USDA’s WASDE will be out on Tuesday, with traders looking for 2.136 bbu of corn ending stocks for the US, up 9 mbu if realizes.
Commitment of Traders data from Friday afternoon showed spec funds flipping to a net long position in corn futures and options to 52,974 contracts. That was a net move of 66, 841 contracts on the week to the long side and is the largest net long in corn since last April.
Brazil’s AgRural estimates the for first corn crop at 42% harvested as of Thursday, behind the 54% pace last year. The second corn crop was pegged at 82% planted, lagging 92% from last year.
Mar 26 Corn is at $4.40, down 7 cents,
Nearby Cash is at $4.12 3/4, down 6 1/2 cents,
May 26 Corn is at $4.55, down 5 1/2 cents,
Jul 26 Corn is at $4.67 1/4, down 3 3/4 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.
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