Corn Slipping on Monday Morning

Corn prices are steady to a penny lower on Monday AM trade. Futures posted Friday losses of 4 to 5 cents across most contracts on Friday. March was still up 2 cents last week. Some money was coming out on Friday, with open interest down 23,476 contracts. Much of that was out of the March (40,580 contracts). The CmdtyView national average Cash Corn price was down 5 cents at $3.97 3/4. The average close for December futures in February has been $4.58, down from last year at $4.70.

Export Sales data shows total corn export commitments at 58.735 MMT, which is 31% above the same period last year. That is now 72% of USDA’s export projection and ahead of the 71% average pace.
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USDA’s WASDE will be out on Tuesday, with traders looking for no major changes to the US ending stocks number, with an average trade guess of 2.215 bbu according to a Bloomberg survey. 

CFTC data showed a total of 3,464 contracts trimmed from the spec net short position in corn futures and options in the week of February 3. That net short stood at 68,786 contracts on that date.

Brazil’s first corn crop is listed at 15% harvested according to AgRural, ahead of the 19% pace from last year. The second crop planting has reached 22%, which is slightly ahead of the 20% apace from 2025.

Mar 26 Corn  closed at $4.30 1/4, down 4 3/4 cents, currently down 1 cent

Nearby Cash  was $3.97 3/4, down 5 cents,

May 26 Corn  closed at $4.38 3/4, down 4 1/4 cents, currently down 1 cent

Jul 26 Corn  closed at $4.45 1/4, down 4 cents, currently down 1/2 cent

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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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.