Corn Slipping Lower on Tuesday Morning, as Crop Ratings Improve

Corn price action is down 5 to 6 cents so far on Tuesday morning trade. Futures slipped into the Monday close as contracts were mostly 1 ½ to 2 ¾ cents higher. July was down ¼ cent. Preliminary open interest was down 7,417 contracts on Monday. July futures expire on Tuesday. The CmdtyView national average Cash Corn price as 1 1/2 cents higher at $4.10.

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. 

The weekly Export Inspections report showed corn shipments of 1.54 MMT (60.6 mbu) in the week of 7/9. That was an 11.26% drop from the week prior but 17.15% above the same week last year. Mexico was the largest destination of 400,015 MT, with 300,620 MT shipped to Japan and 204,633 MT to Vietnam. Shipments for the marketing year are now at 72.21 MMT (2.843 bbu) of corn, which is 24.85% above the same period last year.

CONAB data from this morning 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.

Jul 26 Corn  closed at $4.37 3/4, down 1/4 cent, currently unch

Nearby Cash  was $4.10 1/1, up 1 1/2 cents,

Sep 26 Corn  closed at $4.41, up 1 1/2 cents, currently down 5 1/4 cents

Dec 26 Corn  closed at $4.63 1/4, up 2 1/4 cents, currently down 5 1/2 cents

New Crop Cash  was $4.13 1/8, up 1 3/4 cents,