Corn futures are fading the crude oil rally to start the week, as contracts are down 4 to 5 ½ cents. The CmdtyView national average Cash Corn price is 2 3/4 cents to $4.05 3/4.
USDA’s FGIS tallied corn export shipments at 1.728 MMT (68.03 mbu) during the week ending on May 28. That was 7.72% above the week prior and 5.26% above the same week last year. Japan was the top destination of 592,231 MT, with 430,834 MT headed to Mexico and 148,236 MT to Colombia. Marketing year exports for 2025/26 are 61.94 MMT (2.439 bbu) since September 1, which is now 27.33% above the same period last year.
CFTC data from Friday afternoon showed managed money slashing 87,850 contracts from their net long position in corn futures & options in the week that ended on May 26. That took the net long to 205,504 contracts as of Tuesday.
StoneX estimate the Brazilian corn crop at 136.8 MMT< a 0.2% drop from their previous number, mainly via the second crop estimate.
Jul 26 Corn is at $4.41 1/4, down 5 1/2 cents,
Nearby Cash is at $4.05 3/4, down 2 3/4 cents,
Sep 26 Corn is at $4.50 1/2, down 5 1/4 cents,
Dec 26 Corn is at $4.70, down 5 cents,
New Crop Cash is at $4.22 1/2, down 4 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.
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