On Wednesday morning, corn prices rose by 1 to 2 cents across front-month futures, following a mixed trading session on Tuesday where nearby contracts saw declines of 1 to 2¼ cents, while deferred contracts increased by up to 2¼ cents. Key figures from the trading day indicated a drop of 14,813 contracts in open interest, primarily in July contracts. The CmdtyView national average cash corn price decreased by 1¾ cents to $3.79¼.
The USDA reported a private export sale of 100,000 metric tons of corn to Mexico on Tuesday, comprising 30,000 metric tons for the old crop and 70,000 metric tons for the new crop. Recent crop progress data indicated that 97% of the U.S. corn crop had emerged by June 21, meeting the five-year average, with current good-to-excellent condition ratings at 68%.
Additionally, President Trump stated that unfrozen Iranian funds would be utilized to purchase U.S. agricultural products, including corn. In the 2025/26 period, Iranian corn imports are projected at 9.5 million metric tons, reflecting a decade-long range between 6.8 and 9.8 million metric tons.
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