Corn Rallying Again Out of the Weekend

Corn price action is 7 to 8 cents higher so far on Monday morning after gapping higher on Sunday night. Futures shrugged off the early weakness on Friday to close near the highs of the day, up 2 ¼ to 3 ½ cents across most contracts. September was 5 ¼ cents higher on the week with December up 6 1/2. Open interest was up 9,822 contracts on Friday, suggesting modest new buying. The CmdtyView national average Cash Corn price was up 3 1/4 cents at $4.132.

NOAA’s 7-day QPF updated forecast shows 1- 2 inches expected in much of NE, MO, and parts of Southern/Eastern IA and western IL. Precip is limited in much of the rest of the Corn Belt.

Following USDA’s Export Sales report from Thursday old crop corn sales are now 86.279 MMT That is 102% of USDA’s export projection and ahead of the each of the last 3 years. Actual shipments are 87% of that USDA export projection at 73.058 MMT, head of last year’s 86%. Sales for 2026/27 have accumulated to 6.859 MMT, 14.5% above the same time last year. 

CFTC data released on Friday afternoon showed managed money adding to their a net long in corn futures and options in the week of July 14, adding 30,732 contracts, mainly on more short covering. The net long was at 43,391 contracts as of Tuesday.

Brazil’s AgRural estimates the Brazilian second corn crop at 49% harvested, lagging the 55% pace from last year. The country’s total corn crop is seen at 144.96 MMT for 2026/27 according to Safras & Mercado, a 4.59 MMT increase from the year prior. Buenos Aires Grain Exchange data showed 62% of the Argentina corn crop harvested, below the 80% pace from last year. 

Sep 26 Corn  closed at $4.44 3/4, up 3 1/4 cents, currently up 7 1/4 cents

Nearby Cash  was $4.13 1/1, up 3 1/4 cents,

Dec 26 Corn  closed at $4.67 1/2, up 3 1/2 cents, currently up 7 3/4 cents

Mar 27 Corn  closed at $4.83, up 3 1/2 cents, currently up 8 cents

New Crop Cash  was $4.17 1/8, up 3 3/4 cents,