Corn futures experienced a decline at the start of the week, with contracts falling by 4 to 5.5 cents. The national average cash corn price is currently at $4.05 ¾, a drop of 2.75 cents.
During the week ending May 28, the USDA reported corn export shipments reached 1.728 million metric tons (MMT), equivalent to 68.03 million bushels, marking a 7.72% increase from the previous week and a 5.26% rise compared to the same week last year. Japan was the primary recipient, importing 592,231 MT, followed by Mexico with 430,834 MT and Colombia with 148,236 MT. Cumulative marketing year exports for 2025/26 have totaled 61.94 MMT since September 1, reflecting a 27.33% increase from last year’s figures.
Additionally, managed money cut their net long position in corn futures and options by 87,850 contracts to a total of 205,504 contracts as of May 26, while the Brazilian corn crop is estimated by StoneX to be 136.8 MMT. Current corn futures prices include July corn at $4.41 ¼, down 5.5 cents, and September corn at $4.50 ½, down 5.25 cents.
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