Corn Posting Losses at Midday

Corn futures are trading with 2 to 3 cent losses across most contracts at Thursday’s midday. The CmdtyView national average Cash Corn price is down 2 1/4 cents at $4.61.

USDA’s Export Sales report showed 769,468 MT of corn sales in the week ending on October 1, which was on the lower end of the analysts surveyed by Reuters looking for between 0.6 and 1.7 MMT. That was back up from last week by 43.6%, but 65.9% below the same week last year.

Crop Production data will be updated on Friday, with traders surveyed by Bloomberg looking for yield to be trimmed be 0.7 bpa to 177.8 bpa, as production is seen 67 mbu lower at 15.733 bbu. WASDE data is expected to show stocks up 126 mbu to 1.693 bbu, mainly due to the 173 mbu increase expected from the 2025/26 stocks total that NASS reported at the end of September.

Several South Korean importers purchased a total of 324,000 MT of corn in tenders overnight.

Dec 26 Corn is at $4.99 1/2, down 2 1/2 cents,

Nearby Cash is at $4.61 1/1, down 2 1/4 cents,

Mar 27 Corn is at $5.14 1/2, down 2 1/2 cents,

May 27 Corn is at $5.22, down 2 1/4 cents,