Corn Fading Lower on Wednesday AM Trade

Corn prices are down 2 to 3 cents so far on Wednesday morning. Futures posted losses of 1 to 3 ¼ cents across most front months on Tuesday. Open interest was up 10,150 contracts on Tuesday mainly in the March and July contracts. The CmdtyView national average Cash Corn price was down 3 3/4 cents at $4.87 3/4. 

This week’s Crop Progress report showed 76% of the US corn crop dented as of September 6, with 25% listed as mature and harvest at 5% complete. Condition ratings were down 1 percentage point this week at 46% in good to excellent condition, as the Brugler500 index was steady at 347.

Tuesday morning’s Export Inspections report showed corn shipments at 1.662 MMT (65.4 mbu) in the week of September 3. That was up 10.11% from the week prior and 15.2% above the same week last year. Of that, 1.027 MMT was for old crop , with the marketing year total via Inspections data at 84.83 MMT (3.34 bbu). There was 635,789 MT shipped for new crop. Mexico was the largest destination of 399,572 MT, with 355,910 MT shipped to Japan and 294,096 MT to Colombia. 

StoneX trimmed their estimate for the 2026 US corn yield by 1.9 bpa from their previous number to 182.9 MMT, with production at 16.207 bbu using USDA’s acreage number.

Sep 26 Corn  closed at $5.11, down 1 cent, currently down 2 cents

Nearby Cash  was $4.87 3/4, down 3 3/4 cents,

Dec 26 Corn  closed at $5.33 1/2, down 3 1/4 cents, currently down 3 cents

Mar 27 Corn  closed at $5.49, down 3 1/4 cents, currently down 2 3/4 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. For more information please view the Barchart Disclosure Policy here.