Corn futures are trading 5 to 7 cents higher on Monday, building on Friday's gains after a bullish USDA report. The monthly WASDE report showed US corn ending stocks for 2025/26 down 125 million bushels from last month to 2.02 billion bushels, driven by a 150-million-bushel increase in feed and residual use. New crop carryout fell 170 million bushels to 1.790 billion bushels, a larger-than-expected drop. World corn stocks were trimmed by 5.96 million metric tons to 275.26 million metric tons, with cuts in the US, China, and the EU. Managed money flipped to a net long position in corn futures and options of 12,659 contracts in the week of July 7, according to CFTC data. Dry weather forecasts for key growing areas added support, with little to no precipitation expected across the Dakotas, Kansas, and parts of Minnesota, Iowa, Illinois, and Missouri.