The corn market is trading with contracts falling 8 to 12 cents lower at midday. The front month CmdtyView national average Cash Corn price is down 11 1/2 cents at $4.09 ½.  After a Friday rally, crude oil is giving some of the gains back, down $1.29/barrel. 

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.

After weekend rains through parts of the southeast and the Central and Eastern Corn Belts, more rain is expected in through a large part of the belt early this week. Things do look a little drier past Friday. Corn conditions ratings are expected sei see a slight 1 point increase this afternoon, with analysts surveyed by Bloomberg looking for a 72% gd/ex rating. 

Commitment of Traders data from CFTC indicated the corn speculators added 9,977 contracts of futures and options to their net short position in the week that ended on June 10^th. They held a net short of 164,020 contracts as of Tuesday.

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 is at $4.33, down 11 1/2 cents,

Nearby Cash is at $4.09 1/2, down 11 1/2 cents,

Sep 25 Corn is at $4.19 1/4, down 9 1/4 cents,

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

New Crop Cash is at $3.92 1/2, down 11 3/4 cents,