Austin Schroeder
2 min read
Corn is trading with 3 to 4 cent losses on Wednesday morning. The corn market fell deeper into the Tuesday close, with contracts down 3 to 5 ¼ cents. Preliminary open interest was up 35,549 contracts on Tuesday in all but the July contracts (down 41,151 contracts ahead of Monday’s FND. The front month CmdtyView national average Cash Corn price was down 3 cents at $3.93 1/4. Crude oil futures have given back much of the recent strength this week, down $3.50/barrel on Tuesday and more than $13 off the Monday high.
Rains are falling in the Western Corn Belt and will continue in the next couple days. The 7-day total shows 1 to 4 inches in the ECB, with ECB totals upwards of 1.5 inches.
USDA reported a private export sale of 630,000 MT of corn to Mexico on Tuesday morning, with 554,400 MT for 2025/26 and 75,600 MT for 2026/27.
ANEC estimates the Brazilian corn exports in June at 828,959 MT, which is down from the 913,316 MT in the previous estimate. AgroConsult raised their second crop corn estimate for Brazil by a massive 10.4 MMT shift from last month to 123.3 MMT.
A South Korean importer purchased a total of 266,000 MT of corn in a tender overnight.
Jul 25 Corn closed at $4.16 1/4, down 3 cents, currently down 4 cents
Nearby Cash was $3.93 1/4, down 3 cents,
Sep 25 Corn closed at $4.12 1/4, down 5 1/4 cents, currently down 3 3/4 cents
Dec 25 Corn closed at $4.29, down 4 3/4 cents, currently down 4 cents
New Crop Cash was $3.85 1/1, down 4 1/2 cents,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Barchart.com
