Corn Bulls Gaining Ground Following USDA Reports, with Bullish Stocks Data

Corn futures are trying to gain some steam following a friendlier Grain Stocks report, with contracts up 3 to 6 cents. There were 44 delivery notice on first notice day for July futures. The CmdtyView national average Cash Corn price is 5 1/2 cents higher at $3.81 ½.

Acreage data from NASS showed 95.343 million acres of corn in this morning’s report. That came in just 5,000 acres above the March intentions report and marginally above estimates looking for 95.1 million.

Grain Stocks data as of June 1 was tallied at 5.295 billion bushels, nearly 120 mbu below estimates and shy of the lowest trade guess of 5.3 bbu.

The weekly Crop Progress report showed 9% of the US corn crop silking by June 28, 3 percentage points ahead of the 5-year average. US condition ratings were 67% in good to excellent condition, down 1% from the previous week, as the Brugler500 index slipped 2 points to 371. Using the Brugler500 index, improvement was noted in OH (+13), NE (+9), IA/MN/ND (+3), with WI up 2 and SD 1 point higher. Deterioration was seen in TX (-16), IN (-10), IL (-4), with MO down 5 points.

StatsCanada data showed corn acreage in Canada at 3.963 million acres for 2026 according to this morning’s report, a 4.8% increase year/year.

Jul 26 Corn is at $4.08, up 6 cents,

Nearby Cash is at $3.81 1/2, up 5 1/2 cents,

Sep 26 Corn is at $4.14, up 3 3/4 cents,

Dec 26 Corn is at $4.33 3/4, up 3 3/4 cents,

New Crop Cash is at $3.88 1/4, up 2 3/4 cents,