Corn price action is resuming trade on Tuesday morning with losses of 4 to 5 cents. Crude oil is a pressure factor, down $3.85 from Friday, as the US and Iran were inching closer to a deal over the weekend, though there is nothing set as of this morning. Futures closed the Friday session with contracts 1 to 2 cents higher, as July was up 7 ½ cents last week. December firmed up 5 ½ cents. Open interest was up 14,802 contracts on Friday. The CmdtyView national average Cash Corn price was up a penny to $4.23 1/2.
A couple private export sale announcements were reported on Friday morning, with 493,700 MT to Mexico (225,000 MT for 25/26 and 268,700 MT for 26/27) and 110,000 MT to unknown (50,000 for 25/26 and 60,000 MT for 26/27).
The weekly CFTC update from Friday showed managed money trimming back their net long by 6,129 contracts in the week ending on 5/19. That took their net long position in corn futures and options to 293,354 contracts.
USDA’s Export Sales data showed 79.873 MMT of corn sold for export for the 2025/26 marketing year (shipped or unshipped), which is 26% above the same period last year. That is 95% of the USDA export number and near the 96% average pace.
Jul 26 Corn closed at $4.63 1/4, up 1 cent, currently down 5 cents
Nearby Cash was $4.23 1/2, up 1 cents,
Sep 26 Corn closed at $4.69 3/4, up 1 1/4 cents, currently down 4 1/2 cents
Dec 26 Corn closed at $4.86 1/2, up 1 1/2 cents, currently down 4 cents
New Crop Cash was $4.39 3/8, up 1 1/4 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.
