Corn futures dropped on Monday, with contracts down 1.5 to 6 cents at the close. The national average Cash Corn price decreased by 6 cents to $4.17 3/4. The USDA reported a private export sale of 102,000 metric tons of corn to Mexico, contributing to total marketing year shipments of 44.58 million metric tons, a 37.8% increase year-over-year.
In geopolitical news, President Trump announced via Truth Social a five-day postponement of military strikes against Iranian energy infrastructure following “good and productive” weekend talks. Crude oil prices fell by $9.36 on the day. Iran’s state media countered, stating there was no direct contact with the U.S.
In related developments, Brazil’s AgRural reported that the Brazilian second corn crop was 97% planted as of last Thursday, compared to last year’s complete planting by this point in the season.
