Corn Falling Back on Monday

Corn futures are showing 4 to 5 cent gains in the front months on Monday. The CmdtyView national average Cash Corn price is up 4 3/4 cents to $4.15 3/4.  

USDA reported a private export sale of 145,000 MT of corn to unknown destinations this 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.

Commitment of Traders data showed a total of 55,744 contracts added to the managed money net long position in corn futures and options as of Marc 24. That took the total to 284,548 contracts. Commercials added 45,429 contracts to their net short position to 567,545 contracts.

Ahead of the USDA March Intentions report on Tuesday, 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.

AgRural estimates the Brazil second crop corn now at 99% planted as of Thursday, while they trimmed their production total by 0.5 MMT to 135.7 MMT.

May 26 Corn is at $4.57 1/4, down 4 3/4 cents,

Nearby Cash is at $4.15 3/4, down 4 3/4 cents,

Jul 26 Corn is at $4.69, down 4 1/2 cents,

Dec 26 Corn is at $4.85 1/2, down 4 3/4 cents,

New Crop Cash is at $4.43, down 4 3/4 cents,