Corn futures showed mixed results on July 26, 2023, with nearby futures dropping 1 to 2 ¼ cents and deferred futures gaining up to 2 ¼ cents. The CmdtyView national average cash corn price fell 1 3/4 cents to $3.79 1/4. A private export sale of 100,000 metric tons (MT) of corn to Mexico was reported by the USDA, consisting of 30,000 MT for the old crop and 70,000 MT for the new crop.
As of June 21, 97% of the U.S. corn crop had emerged, matching the five-year average, with 5% already silking—2 points ahead of the normal pace. The USDA reported that 68% of the crop is in good to excellent condition, steady with the previous week. President Trump indicated that unfrozen Iranian funds would be used to buy U.S. agricultural products, including corn. In the 2025/26 season, Iranian corn imports are projected at 9.5 MMT, historically ranging between 6.8 to 9.8 MMT over the last decade.
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