Corn Pushing Higher Following Yield Cut

Corn futures are up 10 to 12 cents in the front months, with December 27 up 6 cents as the spreads find the nearbys stronger. The CmdtyView national average Cash Corn price is up 11 3/4 cents at $4.16 1/4. 

USDA reported a private export sale of 312,700 MT of corn to Mexico for the current marketing year during the reporting period this morning.

Tuesday’s NASS Crop Production showed US corn yield projected at 179.6 bushel per acre, down 1.6 bpa compared to the October estimate and traders looking for a 0.6 bpa cut. Production was tallied at 15.893 billion bushels, which was 141 mbu below last month.

WASDE data showed US ending stocks 91 mbu lower to 1.758 bbu, mainly due to the production number, as demand was trimmed by 50 mbu (-25 mbu each for exports and feed). World carryout for 2026/27 was 1.5 MMT higher to 281.94 MMT, as the South American numbers were revised higher by 4 MMT on a 2 MMT increase to each Brazil and Argentina.  

NASS Crop Progress data showed the US corn harvest at 81% complete as of November 8, moving 7% on the week but still 5 percentage points back of the 5-year average.

Dec 26 Corn is at $4.50 1/2, up 11 1/4 cents,

Nearby Cash is at $4.16 1/4, up 11 3/4 cents,

Mar 27 Corn is at $4.63 1/4, up 11 cents,

May 27 Corn is at $4.71, up 10 1/4 cents,

Dec 27 Corn is at $4.89 1/4, up 6 cents,

'27 New Crop Cash is at $4.52 1/2, up 6 1/2 cents,

On the date of publication, Austin Schroeder did not directly have a position 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.