Corn Rebounds with Strong Close on Tuesday

The US corn market closed strong on Tuesday after reversing some of Monday's losses. Contracts for nearby months gained between 5 and 6 ¾ cents, while deferred contracts were steady to 2 cents higher. The national average cash corn price rose by 6 3/4 cents to $4.28 1/4. A private export sale of 197,272 MT of US corn was reported for the 2026/27 shipment.

The USDA's Crop Progress report showed that 78% of the US corn crop had silked by July 26, exceeding the 5-year average by 4 percentage points. However, US condition ratings fell 4%, dropping to 63% good to excellent. Brazil's ANEC estimated its corn exports in July at 3.3 MMT, a decrease from their previous estimate but still above last year's levels.