Corn Futures Inch Up Amid Gains in Other Grains and Crude Oil
Corn futures rose marginally on Tuesday, closing up to 2.5 cents across the board. This follows gains in other grains and a significant increase in crude oil prices after a slower morning session. The national average Cash Corn price saw a 3.25-cent gain to $4.87.
The upcoming week's harvest progress may be impacted by precipitation, with forecasts indicating 1-3 inches of rain in parts of Kansas, Nebraska, and South Dakota through Iowa and the Eastern Corn Belt. Heavier totals are expected in Minnesota, Wisconsin, and Missouri.
A CONAB data release showed Brazil's 2025/26 corn crop at 144 million metric tons (MMT), a 1.04 MMT increase from previous estimates. Initial projections for the 2026/27 corn crop were pegged at 148 MMT by CONAB, compared to the USDA's estimate of 139 MMT.
The December 26 Corn contract closed at $5.35.75, up 2.5 cents, while nearby Cash was at $4.90.50, up 3 cents. The March 27 and May 27 Corn contracts also saw gains, closing at $5.50.25 and $5.56.75 respectively.