Corn Closes with Monday Gains

Corn futures closed the Monday session with contracts up 3 to 5 cents across most contracts. The CmdtyView national average Cash Corn price was up 4 cents to $4.34 3/4.USDA reported a couple private export sales of corn this morning, with 380,000 MT (220,000 MT for 2025/26 and 160,000 MT for 2026/27) to Mexico and 128,000 MT of 2025/26 to South Korea. Don’t Miss a Day: From crude oil to coffee, sign up free for Barchart’s best-in-class commodity analysis.NASS Crop Progress data showed the US corn crop at 57% planted as of Sunday, which was 5% ahead of the 5-year average pace of 52%. The crop was also 23% emerged, which is 4 percentage points faster than normal. USDA’s FGIS tallied corn export shipments at 1.691 MMT (66.56 mbu) during the week ending on May 7. That was 17.1% below the week prior but 30.04% above the same week last year. Mexico was the top destination of 464,931 MT, with 275,981 MT headed to South Korea and 164,767 MT to Colombia. Marketing year exports for 2025/26 are 57.18 MMT (22.51 bbu) since September 1, which is now 30.49% below the same period last year.The May WASDE report will be released on Tuesday, with traders looking for old crop corn stocks estimated at 2.13 billion bushels vs. 2.127 bbu in April. The first 2026/27 US balance sheet will be released for the World Ag Outlook Board, with analysts surveyed by Bloomberg at an average of 1.942 bbu and a range of 1.776-2.11 bbu. The 2026 US production number is estimated to be tallied at 15.985 bbu, with yield seen at 183 bpa.A South Korean importer issued a tender for 210,000 MT of corn, with a deadline set for Tuesday. May 26 Corn closed at $4.60 3/4, up 4 1/2 cents,Nearby Cash was $4.34 3/4, up 4 cents,Jul 26 Corn closed at $4.75 1/4, up 4 cents,Dec 26 Corn closed at $4.97 3/4, up 4 1/4 cents,New Crop Cash was $4.51 3/4, up 4 cents, On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.