The corn market declined on Tuesday, with contracts falling by 3 to 5¼ cents. The national average cash corn price decreased by 3 cents, settling at $3.93¼. In addition, crude oil futures dropped by $3.50 per barrel, totaling more than $13 off their Monday high.
The USDA reported a private export sale of 630,000 metric tons (MT) of corn to Mexico, which included 554,400 MT for the 2025/26 season and 75,600 MT for 2026/27. Crop conditions declined by 2 percentage points, with 70% rated as good/excellent, particularly affected in the Western Corn Belt states.
In Brazil, corn exports were estimated at 828,959 MT for June, down from a previous estimate of 913,316 MT. AgroConsult significantly raised Brazil’s second crop corn estimate by 10.4 million MT to 123.3 million MT.
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