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Corn futures close higher as US weekly crop progress beats normal
The US corn crop is 90% silking as of August 2, and exporters shipped 1.885 million metric tons in the week ending 7/30, Mexico the top destination.
Corn futures ended the Monday session higher across most contract months, closing up between 6 and 8.5 cents. The CmdtyView national average cash corn price rose 9.75 cents to $4.20, as contracts largely shrugged off overnight declines, according to Yahoo Finance.
The weekly Crop Progress report showed 90% of the US corn crop silking by August 2, with 43% in the dough stage, 5 percentage points ahead of normal. The report also said the crop was 6% dented and condition ratings slipped again by 2 points, to 61% in good to excellent condition, while the Brugler500 index fell 5 points to 356.
Grain crushing data showed 466.71 million bushels of corn used for ethanol production in June, down 1.5% from the prior month but up 4.4% year over year to a record June total, per Yahoo Finance. Export inspections reported corn shipments of 1.885 million metric tons for the week of 7/30, up 22.92% from the previous week and 45.44% above the same week last year, with Mexico the largest destination.
For the broader marketing year, export totals were 77.27 MMT, up 25.35% versus the same period last year with about a month left in the marketing year. Meanwhile, AgRural estimated Brazil’s center south second-crop corn at 69% harvested, at 110.5 MMT, while StoneX raised its second-crop estimate to 110.7 MMT and put the total 2025/26 crop at 141.5 MMT, according to Yahoo Finance.
Latest closeCorn $465.25 ▲3.6%