Corn prices are showing an early Tuesday bounce, with contracts up 2 to 2 ½ cents. Futures posted losses of 1 to 5 ½ cents across the board on Monday, pulling off some of the early lows at the close. Open interest was down 5,437 contracts on Monday, mainly in the December contract. The CmdtyView national average Cash Corn price was down 5 1/4 cents at $4.79 3/4.
The Monday NASS Crop Progress report showed 72% of the US corn crop listed as mature as of September 27, with harvest at 18% complete and now matching average pace. Condition ratings were steady this week at 57% in good to excellent condition, as the Brugler500 index unchanged at 347.
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USDA’s weekly Export Inspections report tallied corn export shipments at 1.566 MMT (61.65 mbu) during the week ending on September 24. That was down 20.11% from the week prior but 1.73% above the same week last year. Mexico was the top destination of 510,846 MT, with 338,808 MT headed to South Korea and 251,190 MT to Japan. Marketing year exports for 2026/27 are 5.726 MMT (225.43 mbu), which is now 12.08% above the same period last year.
Ahead of the Wednesday Grain Stocks report from NASS, traders surveyed by Bloomberg are looking for September 1 stocks of corn at 1.911 billion bushels. That would be well above the 1.551 bbu from last year, but a modest reduction from the WASDE estimate for 2025/26 US corn ending stocks.
Dec 26 Corn closed at $5.23, down 5 1/4 cents, currently up 2 1/4 cents
Nearby Cash was $4.79 3/4, down 5 1/4 cents,
Mar 27 Corn closed at $5.36 1/2, down 5 1/2 cents, currently up 2 cents
May 27 Corn closed at $5.43 1/2, down 5 1/4 cents, currently up 2 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.
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