Corn is falling hard in Early Monday trade, with losses of 11 to 12 ½ cents. Futures pulled off early session gains, but still closed the Thursday session with 2 to 4 cent gains. September was up 8 ¾ cents last week, with December seeing a dime gain. There were 61 deliveries issued against July corn futures on Thursday evening. The front month CmdtyView national average Cash Corn price was up 2 1/4 cents at $4.06 ¾. 

President Trump’s Iowa speech from last week lacked much news from a trade perspective, following chatter that there may be something announced. Early on Monday, reports indicated Indonesia has agreed to a $34 billion trade deal with the US including, corn soybean, and energy products. 

Rains of half to an inch are expected over much of the Corn Belt this next week, with some localized totals in the 2-inch range. Lighter totals are forecast in northern parts of IN and OH, as well as much of MI, with the western portion of the northern Plains seeing little precip. 

USDA’s Export Sales report from last Thursday showed 532,745 MT of old crop corn booked in the week ending on June 26. That was a marketing year low, but is still 49.2% above the same week in 2024. The largest buyer was South Korea at 273,700 MT, with 157,100 MT sold to Mexico. New crop sales totaled 940,159 MT, a marketing year high. That takes forward sales to 4.5 MMT, 28.6% above last year at this time. Mexico was the lead buyer of 435,700 MT, with 242,700 MT sold to Japan. 

Monthly export data from Census showed 7.29 MMT (287 mbu) of corn exported in May, which was up 22.14% from last year but down 6.4% below April. That brought the third quarter total to 882 mbu, with the full year total at 2.09 billion bushels. Distiller exports were up 2.67% from April at 918,108 MT, which was still 9.31% below last year. Ethanol exports were a record for the months at 184.67 million gallons. 

AgRural estimates the Brazilian second corn crop at 28% harvested. Brazilian corn exports totaled 369,533 MMT in June according to trade ministry data, down from the 850,892 MMT in 2024. 

Jul 25 Corn  closed at $4.31 1/2, up 2 1/4 cents, currently down 12 1/2 cents

Nearby Cash  was $4.06 3/4, up 2 1/4 cents,

Sep 25 Corn  closed at $4.20 1/4, up 2 1/4 cents, currently down 11 cents

Dec 25 Corn  closed at $4.37, up 3 1/2 cents, currently down 11 1/4 cents

New Crop Cash  was $3.95 1/1, up 2 3/4 cents,