Corn Futures Tumble on Improving Weather and Crude Oil Retreat

Corn futures are expected to decline on Monday due to improving weather forecasts and lower crude oil prices. Contracts for front months have been trading down by 13-15 cents, with the national average cash corn price falling by 13¾ cents to $4.20¼.

The US Department of Agriculture's Foreign Agricultural Service (FGIS) reported that corn export shipments totaled 1.488 MMT (58.58 mbu) during the week ending July 23, which is 7.74% below the previous week and 2.88% lower than the same period last year.

The top destinations for these exports were Mexico, Japan, and Colombia, with marketing year exports for 2025/26 now standing at 75.324 MMT (2.965 bbu), which is a 24.81% increase from the same period in the previous year.