DTN Feed Corn Analysis and Recommendations

07/15/2026

Latest Recommendation: On July 10, 2026, with corn futures rallying from contract lows set in late June and growing concern for heat and dryness across the Corn Belt through mid-July, consider purchasing feed corn needs through September 2026 with September corn futures trading near $4.31 and the DTN National Corn Index likely near $4.02. Some carry may need to be paid into late summer to secure cash corn. Depending on how the 2026 crop develops, I remain confident of a pre-harvest dip in late August or September as an opportunity to purchase fall 2026 corn needs, but as always, we will remain flexible should market dynamics shift.

DAILY NOTE:

September corn futures traded 9 cents higher on Wednesday, closing at $4.47 1/2. December futures were up 9 cents as well to $4.69 1/2. The corn market jumped on Wednesday on continued weather-related buying as well as spillover bullishness from the 30-40 cent move higher in wheat futures. The September contract also closed above the 50-day moving average for the first time since mid-May in a positive technical sign. The trend in corn futures is sideways for now.

CURRENT ASSESSMENT:

The trend in corn futures is sideways for now. Corn prices moved sharply lower over the second half of May and first half of June, though nearby futures have recently rallied from long-term support near $4.00. USDA forecasted 95.3 million acres of corn were and will be planted in the U.S. in 2026, the fourth largest since 1944, and as a result the current forecast for 2026 production stands as the second largest on record. Meanwhile, old crop U.S. reserves were estimated at 5.3 billion bushels as of June 1, the largest in 7 years. As of the July WASDE, USDA is now estimating record corn crops in the 2025-26 marketing year for the United States, Brazil, and Argentina — the top three exporters of corn in the world, adding to a sense of comfortable world supplies in the near-term. For now, it would appear that traders are following a typical seasonal roadmap in selling from May highs with the goal of an early fall low, though July weather through corn pollination will be a determining factor in trader bias moving forward. The corn market is a neutral, Type 3 market.

MARKETING RECOMMENDATIONS

Summary:

2025-26: Covered on feed corn needs through September 2026 at an average cash price of roughly $4.00 per bushel for the 2025-26 marketing year.

Detailed Positions:

2026-27: Covered cash feed corn needs for September on July 10, 2026, with September futures trading near $4.31 and the DTN National Corn Index near $4.02.

2025-26: Covered cash feed corn needs for August on July 10, 2026, with September futures trading near $4.31 and the DTN National Corn Index near $4.02.

2025-26: Covered cash feed corn needs for June and July on May 27, 2026 with July 2026 futures trading near $4.57 and the DTN National Corn Index likely near $4.19.

2025-26: Covered cash feed corn needs for April and May on February 2, 2026 with May corn futures trading near $4.33.

2025-26: Covered cash feed corn needs for January, February, and March on December 1, 2025 with March corn futures trading near $4.47.

2025-26: Covered cash feed corn needs for November and December on October 20, 2025 with December corn futures near $4.22 and the DTN National Cash Index near $3.82.

2025-26: Covered cash feed corn needs for October on September 29, 2025. DTN’s National Corn Index was near $3.78.

2025-26: Covered cash feed corn needs for September on August 27, 2025. DTN’s National Corn Index was near $3.66.

2024-25: Covered cash feed corn needs for August on July 21, 2025. DTN’s National Corn Index was near $3.91.

2024-25: Covered cash feed corn needs for May, June, and July on March 6, 2025. DTN’s National Corn Index was near $4.24. May corn futures were trading near $4.62 and July futures were near $4.68.

*DTN recommendations are general in nature and are not intended to be specific for any particular person or farming business. The buying and selling of futures or options involves substantial risk and is not suitable for everyone. DTN accepts no responsibility for actual trades made.