Corn prices are holding near steady so far on Tuesday morning, showing fractionally mixed trade. Futures came out of the holiday slowed weeks with gains across the board. Front months were up 6 to 7 cents to lead the charge. Open interest was down 11,335 contracts, suggesting some short covering. The CmdtyView national average Cash Corn price was up 7 1/2 cents at $4.06 ¾.
USDA tallied corn export shipments at 1.207 MMT (47.5 mbu) during the week ending on January 1. That was 9.6% below the week prior and 37.58% above the same week in last year. Japan was the top destination of 294,366 MT, with 243,382 MT headed to Mexico and 90,557 MT to Guatemala. Marketing year exports for 2025/26 are 26.81 MMT (1.06 bbu) since September 1, which is now 64.83% larger vs. the same period last year. Another 119,195 MT of sorghum was headed to China.
Export Sales data got caught up on Monday, with a total of 756,419 MT of corn sold in the week of 12/25, on the lower end of the expected 0.7-1.5 MMT. That was a marketing year low, and just 2.6% below the same holiday week last year.
Commitment of Traders data from Monday afternoon showed managed money flipping back to a net short position of 23,584 contracts in corn futures and options as of December 30. That was a move to the short side of 26,343 contracts
Mar 26 Corn closed at $4.44 1/2, up 7 cents, currently up 1/4 cent
Nearby Cash was $4.06 3/4, up 7 1/2 cents,
May 26 Corn closed at $4.52, up 6 1/2 cents, currently unch
Jul 26 Corn closed at $4.58 1/4, up 6 1/4 cents, currently down 1/4 cent
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.
