Corn Losses Continuing on Tuesday Morning
Corn futures are down 1 to 2 cents early on Tuesday. The corn market rounded out the Monday session with contracts posting fractional to 2 ¼ cent losses. Preliminary interest continues to show some mew selling interest, up 15,821 contracts on Monday. The CmdtyView national average Cash Corn price was 2 ¼ cents lower at $3.69 1/2. December has averaged a $4.18 close since the first of October.
Amid the government shutdown, Monday is Columbus Day, a federal holiday. Thus, the Export Inspections report is pushed back to Tuesday morning. With the shutdown, we won’t be getting a Crop Progress report, though a Reuters survey estimates the crop at 44% harvested.
Taiwan tendered for up to 65,000 MT of corn, with a Wednesday deadline for offers.
CONAB raised their estimate for the 2025/26 crop by 0.32 MMT to 138.6 MMT in their latest release this morning.
Dec 25 Corn closed at $4.10 3/4, down 2 1/4 cents, currently down 1 1/4 cents
Nearby Cash was $3.69 1/2, down 2 1/4 cents,
Mar 26 Corn closed at $4.27 1/4, down 1 3/4 cents, currently down 1 1/2 cents
May 26 Corn closed at $4.36 1/2, down 1 1/2 cents, currently down 1 1/4 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. For more information please view the Barchart Disclosure Policy here.