Corn Prices Show Signs of Recovery Amid Market Developments

The corn market is making a modest comeback this Tuesday morning, with contracts rising between 1 to 3 cents. On Monday, futures recorded gains of 3 to 5 cents in nearby contracts, although December futures faced a slight decline, dropping ¾ cents. Preliminary open interest saw a reduction of 41,570 contracts, predominantly in May. The CmdtyView national average cash corn price increased by 4 1/2 cents, reaching $4.35 1/2.

In notable news, President Trump instructed Treasury Secretary Bessent and USTR Greer to initiate negotiations with Japan later on Monday.

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The first official Crop Progress report from the USDA’s National Agricultural Statistics Service (NASS) indicated that as of April 6, the US corn crop was 2% planted, consistent with the five-year average yet slightly trailing the same week in 2024.

According to the Weekly Export Inspections data, corn shipments totaled 1.583 million metric tons (MMT), equivalent to 62.3 million bushels, for the week ending April 3. This figures represented a 3.89% decline from the previous week but an 8.04% increase compared to the same week last year. Among the importers, Mexico was the primary destination, receiving 480,801 MT, while Japan imported 383,994 MT, South Korea brought in 194,246 MT, and Colombia received 162,845 MT. Overall, marketing year corn shipments now amount to 35.582 MMT (1.4 billion bushels), showing a 29.95% rise from the same week last year.

May 25 Corn closed at $4.64 1/2, gaining 4 1/4 cents, and is currently up 1 1/2 cents.

Nearby Cash stands at $4.35 1/2, up 4 1/2 cents.

Jul 25 Corn finished at $4.70 3/4, increasing by 3 1/2 cents, and is currently up 2 1/4 cents.

Dec 25 Corn closed at $4.46, down 3/4 cents but currently shows an increase of 2 3/4 cents.

New Crop Cash was at $4.10 5/8, down 1/4 cent.

On the date of publication, Austin Schroeder did not hold (either directly or indirectly) any positions in the securities mentioned in this article. All information and data are intended solely for informational purposes. For more details, please view the Barchart Disclosure Policy here.

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