Corn prices increased by 3 to 4 cents on Tuesday, with futures closing the previous session up 3 to 5 cents. The CmdtyView national average cash corn price rose by 4 cents to $4.34 3/4. As of Sunday, the U.S. corn crop is 57% planted, exceeding the 5-year average of 52%, with 23% of the crop emerged, which is 4 percentage points ahead of the norm.
During the week ending May 7, the USDA’s FGIS reported corn export shipments at 1.691 million metric tons (MMT), down 17.1% from the previous week but up 30.04% year-over-year. Mexico was the primary destination, receiving 464,931 MT, followed by South Korea (275,981 MT) and Colombia (164,767 MT). For the marketing year 2025/26, cumulative exports since September 1 stand at 57.18 MMT, marking a decline of 30.49% from the same period last year.
The May WASDE report, released later today, is expected to show old crop corn stocks at 2.13 billion bushels, slightly down from April’s estimate of 2.127 billion bushels. The 2026/27 U.S. production is projected at 15.985 billion bushels, with an anticipated yield of 183 bushels per acre.
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