Corn Prices Dip on Tuesday Despite Contracts Closing Higher Overnight

Corn prices have dropped by 1 to 2 cents in early Tuesday trading, despite some contracts closing higher overnight. The CmdtyView national average Cash Corn price has risen by 9 3/4 cents to $4.20.

The weekly Crop Progress report showed that 90% of the US corn crop had silked by August 2, with 43% in the dough stage, 5 percentage points ahead of normal. The crop was also 6% dented.

US condition ratings slipped another 2% to 61% in good to excellent condition, and the Brugler500 index dropped by 5 points to 356.

The US corn used for ethanol production in June reached a record high of 4.595 billion bushels (bbu), up 76 million bu from last year's marketing year total. Grain Crushing data showed that 466.71 million bushels (mbu) of corn were used for ethanol production in June, down 1.5% from last month and 4.43% larger yr/yr.

Corn shipments rose by 22.92% from the week prior and 45.44% above the same week last year, according to Monday's Export Inspections report. Mexico was the largest destination of 490,997 metric tons (MT), followed by South Korea with 351,654 MT and Colombia with 271,599 MT.

AgRural estimated Brazilian second crop corn at 69% harvested in the center south region, while StoneX updated their numbers to show a total crop of 141.5 million metric tons for 2025/26.