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Corn Starting Monday with Mostly Higher Trade
Yahoo Finance· 2026-03-02 13:32
Group 1 - Corn prices are showing fractional to 2 cent gains on Monday, with March being the only exception, while futures posted gains of 4 to 5 ½ cents on Friday, and May saw an 8 ¾ cent gain last week [1] - The national average Cash Corn price increased by 5 3/4 cents to $4.06 1/4, supported by a rise in crude oil prices, which increased by $5.07 following US/Israel strikes on Iran [1] - The spring base Crop Insurance price was set at an average December corn close of $4.62, which is down 8 cents from the previous year [2] Group 2 - Managed money reduced their net short position by 13,548 contracts to 13,867 contracts in the week ending on 2/24 [3] - Corn export commitments as of 2/19 reached 62.96 million metric tons (MMT), up 29% from the same period last year, representing 75% of the USDA export projection [3] - Actual corn shipments accounted for 46% of the USDA estimate, which is 8 points ahead of the 38% average shipping pace [3] Group 3 - Brazil's first crop corn harvest is 36% complete, lagging behind last year's 46% pace, while the second crop is 66% planted in the center-south region, below the 80% from 2025 [4] - March 26 Corn closed at $4.38 3/4, up 5 1/2 cents, while nearby Cash was $4.06 1/4, up 5 3/4 cents [4]