Corn prices fell early Wednesday, down 2 cents, with futures closing Tuesday at $4.11, a decline of 7 cents. Preliminary open interest decreased by 2,349 contracts and 36 deliveries were logged against July corn futures. The national average cash corn price stood at $3.84, down 5 cents.
As of July 6, 18% of the U.S. corn crop was reported to be silking, which is 3 points ahead of the normal pace, and 3% was in the dough stage. Condition ratings improved to 74% good/excellent. In Ukraine, UGA estimates the 2025 corn crop at 29.25 million tons, with potential exports of 24 million tons for the 2025/26 period.
The Central Corn Belt is set to receive 1 to 3 inches of rain this week, with lighter totals expected in parts of the Plains and Eastern Corn Belt.
