Corn Falls to New Contract Lows with September Below $4

Austin Schroeder Barchart Tue Jul 8, 5:28PM CDT
Spring filed with sprouts of corn via Shutterstock

Corn futures closed the Tuesday session with contracts down 5 to 7 cents, as September fell below the $4 mark. The front month CmdtyView national average Cash Corn price was down a nickel at $3.84. 

USDA reported a private export sale of 112,776 MT of corn to Mexico this morning, all for new crop shipment.

The Central Corn Belt is expected to receive 1 to 2 inches of rain this week, with the western half of the Plains and parts of the ECB seeing lighter totals. 

Crop Progress data showed 18% of the US corn crop was silking by July 6, 3 points ahead of normal, with 3% in the dough stage. Condition ratings were up 1% to 74% good/excellent, with the Brugler500 index improving 3 points to 385. Much of the improvement came in the West, with IA up 2 points, KS 15 points higher, and MO up 1. IL was down 9 points, with OH slipping 4 and NE down 2 points. 

Jul 25 Corn  closed at $4.11, down 7 cents,

Nearby Cash  was $3.84, down 5 cents,

Sep 25 Corn  closed at $3.98, down 5 1/2 cents,

Dec 25 Corn  closed at $4.14 1/4, down 6 1/2 cents,

New Crop Cash  was $3.73 3/8, down 5 1/4 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.