Corn futures fell between 1.5 to 6 cents in Monday’s trading, with the CmdtyView national average cash corn price dropping to $4.17 3/4. The decline comes amid geopolitical tensions, as President Trump called for a delay in military action against Iran, which may have influenced broader commodity markets, including a significant drop in crude oil prices by $9.36.

The USDA reported a private export sale of 102,000 metric tons of corn to Mexico, contributing to a 1.79% week-over-week increase in export inspections, totaling 1.7 million metric tons. This uptick, alongside a 37.8% year-over-year rise in marketing year shipments, indicates robust demand, particularly from Mexico, Japan, and Colombia, despite the recent price dip.

Market professionals should note the interplay between geopolitical events and commodity prices, as well as the strong export figures, which could signal resilience in the corn market despite current price pressures.

Source: nasdaq.com