Corn futures were caught off-guard by a surprise hike to corn yield on Friday, as contracts are trading with 26 to 28 ¼ cents at midday, nearing the 30 cent limit. The CmdtyView national average Cash Corn price is down 28 ¼ cents at $4.34 1/2.
Crop Production data from this morning showed US corn yield at 181.2 bpa, up 2.7 bpa from the September report. That took the production total 234 mbu higher to 16.034 bbu and was well above trade estimates.
Don’t Miss a Day: From crude oil to coffee, sign up free for Barchart’s best-in-class commodity analysis.
With the increased production, supplies were 407 mbu larger due to the 173 mbu increase to the 2025/26 carryout found back at the end of September. That took the US ending stocks projection for 2026/27 to 1.849 bbu, 282 mbu above September’s guess and 179 mbu larger than estimates. An increase in all three major use categories by a combined 125 mbu eased some of the increase in supply. World corn carryout was raised by 8,34 MMT to 280.44 MMT, mainly due to the US.
The harvest window is a little shorter in the east, with upwards of an inch in parts of IN and OH in the next few days from the remnants of hurricane Isaias. Much of the rest of the country is dry until late Wednesday through Friday, with rains of 1-2 inches in IA, MO, MN, WI, the Dakotas, and eastern NE.
Dec 26 Corn is at $4.72, down 28 1/4 cents,
Nearby Cash is at $4.34 1/2, down 28 1/4 cents,
Mar 27 Corn is at $4.87 1/4, down 28 cents,
May 27 Corn is at $4.95 1/2, down 26 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.
More news from Barchart
Grain Bulls Are on the Ropes After Corn Prices Plunged to a 6-Week Low 2 Reasons You Should Sell Soybean Meal Now Why You Should Bet on Corn Prices Falling Further from Here Corn, Wheat, and Soybean Prices Face a Wet Blanket as Heavy Rains Disrupt Crops