Corn futures experienced a modest uptick on Tuesday, with contracts rising by 1½ to 3 cents. The national average cash corn price increased by 2¼ cents to $4.18½. Key developments included two private sales reported by the USDA for the 2025/26 crop year, totaling 295,000 metric tons to Colombia and an undisclosed destination, which signals ongoing demand for U.S. corn.
The NASS Crop Progress report indicated that 11% of the U.S. corn crop is now planted, surpassing the five-year average of 9%. While Iowa’s planting is lagging at just 2%, the Eastern Corn Belt states are ahead of schedule. Additionally, Argentina’s corn production forecast has been raised to 60 million metric tons, significantly above the USDA’s estimate of 52 million metric tons, which could influence global supply dynamics.
Market participants should monitor these developments closely, as the planting pace and international demand could impact corn prices in the near term.
Source: nasdaq.com