Corn prices are up 3 to 4 cents so far on Wednesday morning with spillover support from double digit gains in the wheat complex. Futures closed out the Tuesday session with contracts ¾ to 2 ¾ cents lower, as July expired 4 cents lower at $4.33 3/4. Open interest was down 2,074 contracts on Tuesday, mainly in the front months. The CmdtyView national average Cash Corn price was 2 1/4 cents lower at $4.08 3/4.
The weekly Crop Progress report showed 16% of the US corn crop silking by July 12, 4 percentage points ahead of the 5-year average, with 6% in the dough stage. US condition ratings were left at 68% in good to excellent condition, as the Brugler500 index was up 2 to at 371. By state, IN and IA were down 1 point, with SD dropping 9 points. Improvement was noted in OH (+17), with MO up 7, NE ratings 5 points higher ND up 6 and IL improving 1 point.
CONAB data from Wednesday showed the Brazilian 2025/26 corn crop at 141.73 MMT, a 1.27 MMT increase from last month, with second crop raised 1.56 MMT to 109.43 MMT. ANEC estimates the Brazilian corn exports in July at 3.44 MMT, up 0.95 MMT from previous number. Last year’s July total was 2.43 MMT.
Jul 26 Corn closed at $4.33 3/4, down 4 cents,
Nearby Cash was $4.08 3/4, down 2 1/4 cents,
Sep 26 Corn closed at $4.38 1/2, down 2 1/2 cents, currently up 3 1/2 cents
Dec 26 Corn closed at $4.60 1/2, down 2 3/4 cents, currently up 3 1/2 cents
New Crop Cash was $4.11 3/4, down 2 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
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