Corn futures closed down 1 to 3 cents on Monday, with the front month CmdtyView national average Cash Corn price at $3.91 1/4, a decrease of 2 3/4 cents. The USDA’s quarterly Grain Stocks report indicated that 4.643 billion bushels of corn were in stocks as of June 1, slightly above estimates but down 354 million bushels from the previous year. The annual Acreage report noted 95.203 million acres planted this spring, which is just 123,000 acres fewer than previously intended.
As of June 29, the U.S. corn crop is reported at 8% silking, ahead of the average 6%, with condition ratings rising to 73% good/excellent. Meanwhile, export inspections for the week ending June 26 showed 1.37 million metric tons of corn shipped, declining 8.92% from the previous week and 64.81% from the same week in 2024. Brazil’s corn crop was estimated at 130.6 million metric tons, an increase of 1.9 million metric tons from prior estimates, primarily due to a boost in the second crop.
