Corn futures are down 4 to 7 cents so far on Monday morning trade following a weekend trade quarrel that is offering some risk off approach this morning. The corn market posted Friday weakness of 3 to 4 cent, as March was still up 2 ¼ cents on the week. The national average Cash Corn price from cmdtyView was down 3 1/4 cents at $4.51 1/4.
On Sunday, President Trump threatened an emergency 25% tariffs on all Columbian goods and sanctions after the country rejected two deportation flights already in the air. Columbia, a large US corn and ethanol buyer, threatened a retaliatory tariff of 25%. After Columbia agreed to all of the US President’s terms, President Trump put the tariffs and sanctions in reserve, unless Columbia doesn’t honor such agreement.
Commitment of Traders data from CFTC showed managed money spec funds in corn futures and options adding 19,450 contracts to their net long position as of 1/21 to 311,678 contracts.
Export Sales for 2024/25 corn totaled 1.66 MMT in the week ending on January 16, on the top end of the 0.7 and 1.7 MMT estimates. That was the largest in 4 weeks and up 62.2 % from the week prior. South Korea was the largest buyer of 462,100 MT, with 277,500 MT sold to Taiwan. The 2025/26 corn bookings totaled 9,243 MT, coming in between the 0 and 50,000 MT expectations. That was spilt between Mexico and Japan.
Brazil’s first corn crop was pegged at 9% harvested as of last Thursday in the Center-South region. Planting of the second crop was listed at 2.2% complete.
Mar 25 Corn closed at $4.86 1/2, down 3 1/4 cents, currently down 7 cents
Nearby Cash was $4.51 1/4, down 3 1/4 cents,
May 25 Corn closed at $4.96 1/2, down 2 3/4 cents, currently down 6 3/4 cents
Dec 25 Corn closed at $4.61, down 3 1/4 cents, currently down 4 1/2 cents
New Crop Cash was $4.32 5/8, down 3 1/4 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.