On Monday, corn prices experienced fractional to 2-cent gains across the front months, with March as an exception. The previous Friday saw futures gain 4 to 5.5 cents, while May corn rose 8.75 cents last week. Open interest increased by 23,160 contracts, indicating new buying interest, alongside 448 deliveries issued. The national average cash corn price rose by 5.75 cents to $4.06 1/4, supported by a $5.07 increase in crude oil following US/Israel military actions in Iran.
The spring base crop insurance price closed at $4.62 for December corn, down 8 cents from last year. As of February 19, corn export commitments stood at 62.96 million metric tons, a 29% increase from the same period last year. This figure represents 75% of the USDA’s export projection, with actual shipments at 46% of that estimate.
Brazil’s first corn crop harvest is 36% complete, lagging behind last year’s 46% pace, while the second crop is 66% planted, below the 80% from 2025.
