Corn Prices Decline Amid Mixed Export Activity and Crop Progress

The corn market is experiencing declines on Tuesday, with contracts falling between 5 to 13 cents, primarily affecting the front months. The nearby CmdtyView national average Cash Corn price decreased by 12 1/2 cents, now sitting at $4.37.

Export Activity and Sales

This morning, the USDA announced a private export sale of 120,000 MT of corn to Spain for shipment in the 2024/25 marketing year. Additionally, a Taiwan importer secured 65,000 MT of U.S. corn overnight. On Tuesday, a South Korean importer also purchased a total of 66,000 MT of corn.

Crop Progress Update

The latest Crop Progress data, released Monday, indicates that the U.S. corn crop is 24% planted as of April 27. This figure is slightly ahead of the five-year average of 22% for the same date. Emergence has reached 5%, which is 1 percentage point above the typical pace. However, some states in the Eastern Corn Belt, including Illinois, Indiana, Kentucky, North Carolina, Pennsylvania, Tennessee, and Wisconsin, are lagging behind their usual planting schedules.

Current Price Overview

May 25 Corn is priced at $4.62, down 13 1/2 cents.

Nearby Cash is at $4.37, down 12 1/2 cents.

Jul 25 Corn stands at $4.71 1/4, down 12 cents.

Dec 25 Corn is at $4.44 3/4, down 5 1/2 cents.

New Crop Cash is at $4.08 1/2, also down 5 1/2 cents.

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

The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Nasdaq, Inc.