Corn Bulls Powering through Early Weakness for Midday Gains

Corn futures are trading with 7 to 8 cent gains across most contracts on Monday so far, shrugging off early weakness. The CmdtyView national average Cash Corn price is up 9 cents at $4.19 1/4.

Monday morning’s Export Inspections report showed corn shipments of 1.885 MMT (74.2 mbu) in the week of 7/30. That was up 22.92% from the week prior and 45.44% above the same week last year. Mexico was the largest destination of 490,997 MT, with 351,654 MT shipped to South Korea and 271,599 MT to Colombia. The marketing year total is now 77.27 MMT (3.04 bbu) of export, which is now 25.35% ahead of the same period last year with just a month left in the marketing year.

CFTC data released on Friday afternoon showed managed money adding 75,490 contracts to their net long in corn futures and options in the week of July 28. The net long was at 168,399 contracts as of Tuesday.

AgRural estimate the Brazilian second crop corn at 69% harvested in the center south region. The second crop is estimated at 110.5 MMT, with the total crop at142.8 MMT for 2025/26. StoneX also released their updated numbers this week with the second crop raised by 3.2 MMT to 110.7 MMT, with the total crop at 141.5 MMT. 

Sep 26 Corn is at $4.48 1/4, up 7 1/2 cents,

Nearby Cash is at $4.19 1/4, up 9 cents,

Dec 26 Corn is at $4.71 1/4, up 7 1/4 cents,

Mar 27 Corn is at $4.86 3/4, up 7 cents,

New Crop Cash is at $4.23 3/4, up 10 1/4 cents,