Corn Facing Monday Losses on as Crude Oil Retreats

Corn futures are trading with contracts down 13 to 15 cents across most front months, pressured by an improving weather forecast and $6.63 losses in the crude oil. The CmdtyView national average Cash Corn price is down 13 ¾ cents at $4.20 1/4.

USDA’s FGIS tallied corn export shipments at 1.488 MMT (58.58 mbu) during the week ending on July 23. That was 7.74% below week prior and 2.88% below the same week last year. Mexico was the top destination of 454,201 MT, with 252,204 MT headed to Japan and 236,112 MT to Colombia. Marketing year exports for 2025/26 are 75.324 MMT (2.965 bbu), which is now 24.81% above the same period last year.

The NOAA 7-day QPF shows 1 to 2 inches across much of the Corn Belt from NE across much of IA, MO, IL, and IN over in the next week. The Dakotas and MN are seen with less than 0.5 inch, and spotty totals up to an inch.

The Brazilian second corn crop was listed at 60% harvested in the center south region, according to AgRural. That lags the 68% average from the year prior. 

CFTC data released on Friday afternoon showed managed money adding to their net long in corn futures and options in the week of July 21, adding 49,518 contracts, mainly on more short covering. The net long was at 92,909 contracts as of Tuesday.

Sep 26 Corn is at $4.50 3/4, down 13 1/2 cents,

Nearby Cash is at $4.20 1/4, down 13 3/4 cents,

Dec 26 Corn is at $4.73, down 14 1/2 cents,

Mar 27 Corn is at $4.88 1/2, down 14 1/2 cents,

New Crop Cash is at $4.24 3/4, down 14 cents,