Corn Nearing July Highs on Tuesday Morning

Corn price action is 2 to 3 cents higher so far on Tuesday, seeing some follow through from Monday trade. Futures were 5 to 8 cents higher across most contracts to start the week. Short covering was noted on Monday, with preliminary open interest dropping 18,903 contracts, mainly in the December contract (-21,393). The CmdtyView national average Cash Corn price was up 5 1/2 cents to $3.88 ¼.

Export Inspections data showed 1.187 MMT (46.75 mbu) of corn shipped in the week that ended on October 23, which was a drop of 10.38% from the week prior but 38.11% above the same week last year. Mexico was the top destination of 366,473 MT, with 173,669 MT to South Korea. Marketing year shipments have totaled 10.533 MMT (414.68 mbu), a 57.83% increase yr/yr.Don’t Miss a Day: From crude oil to coffee, sign up free for Barchart’s best-in-class commodity analysis.

Crop Progress data was not reported on Monday due to the government shutdown, with traders looking for 72% of the corn crop harvested as of 10/26.

A South Korean importer purchased 204,000 MT of corn in a tender overnight. No origin was listed for the purchase.

AgRural estimates the 2025/26 Brazilian first corn crop at 55% planted as of Thursday.

Dec 25 Corn closed at $4.28 3/4, up 5 1/2 cents, currently up 2 1/2 cents

Nearby Cash was $3.88 1/4, up 5 1/2 cents,

Mar 26 Corn closed at $4.44 1/4, up 7 1/4 cents, currently up 2 3/4 cents

May 26 Corn closed at $4.53 3/4, up 8 cents, currently up 2 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. For more information please view the Barchart Disclosure Policy here.

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