Corn Rallies as NASS Cuts Ratings

Corn futures were busy shrugging off the overnight losses, with contracts closing 6 to 8 ½ cents higher across most months. The CmdtyView national average Cash Corn price as up 9 3/4 cents at $4.20.

The weekly Crop Progress report showed 90% of the US corn crop silking by August 2, with 43% in the dough stage, 5 percentage points ahead of normal. The crop was also 6% dented. US condition ratings slipped another 2% at 61% in good to excellent condition, as the Brugler500 index were down 5 points to at 356. 

Grain Crushing data from Monday showed 466.71 mbu of corn used for ethanol production in June, down 1.5% from last month and 4.43% larger yr/yr to a record June total. Marketing year production is now 76 mbu above last year at 4.595 bbu. 

Monday morning’s Export Inspections report showed corn shipments of 1.885 MMT (74.2 mbu) in the week of 7/30. That was up 22.92% from the week prior and 45.44% above the same week last year. Mexico was the largest destination of 490,997 MT, with 351,654 MT shipped to South Korea and 271,599 MT to Colombia. The marketing year total is now 77.27 MMT (3.04 bbu) of export, which is now 25.35% ahead of the same period last year with just a month left in the marketing year.

AgRural estimate the Brazilian second crop corn at 69% harvested in the center south region. The second crop is estimated at 110.5 MMT, with the total crop at142.8 MMT for 2025/26. StoneX also released their updated numbers this week with the second crop raised by 3.2 MMT to 110.7 MMT, with the total crop at 141.5 MMT. 

Sep 26 Corn  closed at $4.49 1/4, up 8 1/2 cents,

Nearby Cash  was $4.20 1/1, up 9 3/4 cents,

Dec 26 Corn  closed at $4.72 1/2, up 8 1/2 cents,

Mar 27 Corn  closed at $4.88 1/4, up 8 1/2 cents,

New Crop Cash  was $4.24 3/4, up 11 1/4 cents,

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