Corn Bears Remian in the Driver’s Seat on Monday

Austin Schroeder Barchart Mon Jun 16, 4:31PM CDT
Sweet Corn still on husk by wal_172619 via Pixabay

The corn market posted sharp losses of 8 to 12 cents across most contracts on Monday. The front month CmdtyView national average Cash Corn price was down 9 3/4 cents at $4.11 1/4.  After a Friday rally, crude oil gave some of the gains back, down $1.54/barrel. 

After the Monday close, USDA Crop Progress report showed corn at 94% emerged across the country, on par with the five year average pace. Condition ratings were up 1 point to 72% good/excellent, matching trade ideas. The Brugler500 index was one point higher to 379 points.

USDA’s Export Inspections report indicated a total of 1.673 MMT (65.86 mbu) of corn shipped in the week that ended on 6/12. That was up 21.16% from the same week in 2024 but down 3.23% from last week. Japan was the largest destination of 348,437 MT, with 336,184 MT headed to Mexico, and 192,347 MT to South Korea. Marketing year shipments have totaled 52.05 MMT (2.049 bbu) with since September 1, which is up 28.46.5% compared to the same week last year.

Brazil’s second crop corn harvest is now at 5.2% harvested, according to AgRural, which lags the 21% pace from last year.

Jul 25 Corn  closed at $4.34 3/4, down 9 3/4 cents,

Nearby Cash  was $4.11 1/4, down 9 3/4 cents,

Sep 25 Corn  closed at $4.19 3/4, down 8 3/4 cents,

Dec 25 Corn  closed at $4.35, down 8 cents,

New Crop Cash  was $3.92 1/1, down 11 1/2 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.