Corn futures continued their death spiral liquidation from the last few weeks, with contracts down another 5 to 8 1/4 cents at the close. The CmdtyView national average Cash Corn price was 7 cents at $3.90. Crude oil losses of $3.11 added some pressure.
USDA reported a private export sale of 115,000 MT of corn to Colombia this morning for 2026/27 shipment.
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Weekly Export Sales data showed 883,332 MT in old crop corn sales during the week of 5/28, down 13% from the week prior and 6.3% below the same week last year. Japan was the buyer of 336,300 MT, with 243,900 MT sold to Mexico. New crop business was seen at 243,716 MT, a 3-week low for 2026/27 business. The largest buyer was Costa Rica at 117,400 MT, with 70,600 MT sold to unknown destinations.
Forecasts are shifting east, with portions of the ECB getting some precip over the next 7 days.
Brazilian corn exports totaled 250,449 MT in May according trade ministry data, well above the 38,928 MT in May 2025. The Buenos Aires Grains Exchange estimates the Argentina corn crop at 40.6% harvested, with their production estimate unchanged at 64 MMT.
Jul 26 Corn closed at $4.24 1/2, down 7 cents,
Nearby Cash was $3.90, down 7 cents,
Sep 26 Corn closed at $4.32 3/4, down 7 1/2 cents,
Dec 26 Corn closed at $4.51 3/4, down 8 cents,
New Crop Cash was $4.05 3/8, down 7 3/4 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.
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