Corn futures saw modest gains on Tuesday, with May contracts trading at $4.43, up 2 3/4 cents, while the nearby cash price increased to $4.05 3/4, also up 2 3/4 cents.
The USDA reported private export sales of 316,000 metric tons (MT) of corn to Mexico, including 65,000 MT for the 2025/26 marketing year and an additional 120,000 MT sold to unspecified destinations for the current marketing year. Crop Progress data indicates that the U.S. corn crop was 5% planted as of Sunday, slightly above the 5-year average of 4%.
Additionally, Brazilian corn production estimates were updated, increasing by 1.3 million metric tons to 139.57 million metric tons, with the second crop up 0.68 million metric tons to 109.12 million metric tons.
