Corn Pullback Continues on Tuesday Morning

Austin Schroeder Barchart Tue Jul 22, 6:21AM CDT
Corn field blue sky by Alberto Masnovo via iStock

Corn is trading with earlier Tuesday losses extending 4 to 5 cents lower. Futures closed out the Monday session seeing some slight buying off the midsession lows, though contracts were still 4 to 5 ½ cents in the red. Preliminary open interest was down 1,259 contracts on Monday. The CmdtyView national average new crop Cash Corn price was $3.80.

Crop Progress data indicated 56% of the US corn crop was silking as of 7/20, 2 points back of the 5-year average. The crop was 14% in the dough stage, vs. the 12% average. Condition ratings were unchanged at 74% gd/ex and 385 on the Brugler500 index. 

The Monday morning USDA Grain Inspections report indicated 983,625 MT were inspected for export in the reporting week ending July 17. That was down slightly from 991,257 MT a year ago, and well off of the updated 1.314 MMT shipped the previous week.  The YTD inspections total 58.718 MMT (~2.315 billion bushels), up 28.9% from a year ago at the same time. 

A South Korean importer tendered for 140,000 MT of corn overnight.

Sep 25 Corn  closed at $4.03 3/4, down 4 3/4 cents, currently down 4 1/2 cents

Nearby Cash  was $3.90, down 4 3/4 cents,

Dec 25 Corn  closed at $4.22 1/4, down 5 1/2 cents, currently down 4 3/4 cents

Mar 26 Corn  closed at $4.39 3/4, down 5 cents, currently down 4 cents

New Crop Cash  was $3.80 1/8, down 5 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.