Corn futures experienced a decline of 4 to 5 cents, with the CmdtyView national average cash corn price falling to $4.10 1/2. In parallel, crude oil prices dropped by $2.03 amid discussions between the US and Iran regarding a two-week ceasefire proposal from Pakistan, ahead of a deadline on Tuesday night. This volatility led corn investors to reduce their exposure before the evening close.
As of Monday, the USDA reported that 3% of the US corn crop is planted, surpassing the 5-year average of 2%. Bloomberg analysts anticipate a slight increase in the US carryout projection, expected to rise by 3 million bushels to 2.13 billion bushels in the upcoming WASDE update.
Brazil’s corn exports in March reached 983,029 metric tons, marking a 12.82% increase from the previous year, although down 36.67% from February. May 2026 corn closed at $4.49, while July and December futures also saw similar declines.
