Corn prices showed modest gains on Monday, with midday trading reflecting steady to three-cent increases after pulling back from early session strength. The CmdtyView national average Cash Corn price edged up ¾ cent to $4.21.
Export and Market Activity
U.S. corn export inspections for the week ending March 13 totaled 1.659 million metric tons (MMT) (65.29 million bushels), marking a 25.06% increase from the same period last year but down 10.06% from the previous week. Mexico led as the top importer with 346,619 MT, followed by Japan (322,618 MT) and Colombia (178,227 MT). Cumulative marketing year exports have reached 30.76 MMT (1.211 billion bushels) since September 1, reflecting a 32.65% rise year-over-year.
Speculative and Commercial Positioning
The latest CFTC report revealed that speculators cut 73,211 contracts from their net long position in corn futures and options as of March 11, bringing the total net long to 146,541 contracts—a significant reduction of 190,913 contracts over the past two weeks. Meanwhile, commercial traders reduced their net short position by 77,711 contracts, driven primarily by increased commercial longs.
Brazilian Corn Crop Progress
AgRural reported that Brazil’s second corn crop was 97% planted as of last Thursday, signaling strong planting progress in one of the world’s leading corn-producing regions.
Corn Futures Snapshot
- May 2025 Corn: $4.58 ½, unchanged
- Nearby Cash: $4.21 ½, up ¼ cent
- July 2025 Corn: $4.68 ¼, up ¾ cent
- December 2025 Corn: $4.53 ¾, up 2 ¾ cents
- New Crop Cash: $4.16, up 2 ¼ cents
The market remains supported by strong export demand, shifting speculative positions, and steady crop progress in key growing regions.
