Corn futures shrugged off the early weakness on Friday to close near the highs of the day, up 2 ¼ to 3 ½ cents across most contracts. September was 5 ¼ cents higher on the week with December up 6 1/2. The CmdtyView national average Cash Corn price was up 3 1/4 cents at $4.132. A resurgence in the crude oil back above $80/bbl, up $3.50 on the day was supportive.
The NOAA 7-day forecasts continues to call for little ton precip in much of the Dakotas with portions of IA, NE, MN, MN and KS seeing less than 0.5 inch and the eastern corn belt near 1 to 2 inches.
Following USDA’s Export Sales report from Thursday old crop corn sales are now 86.279 MMT That is 102% of USDA’s export projection and ahead of the each of the last 3 years. Actual shipments are 87% of that USDA export projection at 73.058 MMT, head of last year’s 86%. Sales for 2026/27 have accumulated to 6.859 MMT, 14.5% above the same time last year.
CFTC data released on Friday afternoon showed managed money adding to their a net long in corn futures and options in the week of July 14, adding 30,732 contracts, mainly on more short covering. The net long was at 43,391 contracts as of Tuesday.
Brazil’s total corn crop is seen at 144.96 MMT for 2026/27 according to Safras & Mercado, a 4.59 MMT increase from the year prior. FranceAgriMer data from this morning showed corn ratings in France at 41% good/excellent. Down 6 percentage points from last week and below the 72% ratings last year. Buenos Aires Grain Exchange data showed 62% of the Argentina corn crop harvested, below the 80% pace from last year.
Sep 26 Corn closed at $4.44 3/4, up 3 1/4 cents,
Nearby Cash was $4.13 1/1, up 3 1/4 cents,
Dec 26 Corn closed at $4.67 1/2, up 3 1/2 cents,
Mar 27 Corn closed at $4.83, up 3 1/2 cents,
New Crop Cash was $4.17 1/8, up 3 3/4 cents,
