Corn Bulls Failing to See Strength on a Pick-up in Export Business

Corn futures are trading with contracts down 2 to 4 cents at midday, getting some slight midday bids off the lows. The CmdtyView national average Cash Corn price was down 2 3/4 cents at $4.36. 

USDA reported a private export sale of 127,000 MT of corn for 2026/27 to Japan this morning.

USDA’s Export Sales report from this morning showed 1.122 MMT in 2026/27 corn sales during the week of 10/8, on the high end of a Reuters survey of analysts of 0.5-1.2 MMT. That was a 45.9% hike from last week and a MY high, but 15.4% below the same week last year.

A South Korean importer purchased 134,000 MT of optional origin corn in a private deal overnight. China set their official import tariff rate quota at 7.2 MMT for 2027, consistent with their previous TRQ.

Dec 26 Corn is at $4.75 1/4, down 2 3/4 cents,

Nearby Cash is at $4.36, down 2 3/4 cents,

Mar 27 Corn is at $4.87 1/2, down 3 1/2 cents,

May 27 Corn is at $4.94 1/2, down 3 1/2 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. For more information please view the Barchart Disclosure Policy here.