Corn futures closed the Monday session with contracts down 1 ½ to 6 cents in most contracts at the close. The CmdtyView national average Cash Corn price was down 6 cents to $4.17 3/4.
Early on Monday morning, President Trump put out a Truth Social post ordering the military to postpone strikes against Iranian power plants and energy infrastructure for 5 days after weekend talks were “good and productive.” Iran state media responded stating there was no direct contact with the US. Crude oil fell $9.36 on the day.
USDA reported a private export sale of 102,000 MT of corn sold to Mexico this morning.
Export Inspections data showed corn at 1.7 MMT (66.9 mbu) shipped in the week that ended on March 19. That was up 1.79% from last week, and 9.83% above the same week last year. Mexico was the top destination of 483,855 MT, with 327,512 MT to Japan and 180,375 MT to Colombia. Marketing year shipments have totaled 44.58 MMT (1.755 bbu), which is up 37.8% yr/yr. China was the sole destination for 182,179 MT of sorghum.
Brazil’s AgRural estimates the Brazilian second corn crop at 97% planted as of last Thursday, as last year was already completed by this point.
May 26 Corn closed at $4.59 1/2, down 6 cents,
Nearby Cash was $4.17 3/4, down 6 cents,
Jul 26 Corn closed at $4.70 1/2, down 5 1/2 cents,
Dec 26 Corn closed at $4.86 1/2, down 4 1/4 cents,
New Crop Cash was $4.44 3/4, down 4 3/4 cents,
