Corn prices are up fractionally to a penny so far on Tuesday morning. Futures closed the Monday session with contracts slipping 2 to 3 cents lower into the final bell. Open interest was down 5,089 contracts on Monday, mainly rolling out of December (-44,694 contracts). The CmdtyView national average Cash Corn price was down 1 1/2 cents at $4.05 3/4.
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.
Don’t Miss a Day: From crude oil to coffee, sign up free for Barchart’s best-in-class commodity analysis.
USDA’s FGIS tallied corn export shipments at 905,267 MT (35.64 mbu) during the week ending on November 5. That was 0.77% above the week prior but 39.03% below the same week last year. Mexico was the top destination of 371,855 MT, with 238,782 MT headed to Colombia and 130,643 MT to Japan. Marketing year exports for 2026/27 are 11.59 MMT (456.45 mbu) since September 1, which is now 15.89% below the same period last year.
The monthly NASS Crop Production report will be released later today, with traders looking for corn yield to be trimmed by 0.6 bushel per acre, at 180.6 bpa according to a Bloomberg survey. Production is estimated to be cut by 54 million bushels to 15.98 billion bushels. USDA’s WASDE report is expected to show US ending stocks down 3 mbu to 1.846 bbu.
USDA’s annual baseline projections were released on Monday showing an arm chair projection of 95.5 million corn acres for 2027/28, down from 96.8 million this year if realized.
Dec 26 Corn closed at $4.39 1/4, down 2 1/4 cents, currently up 1 cent
Nearby Cash was $4.05 3/4, down 1 1/2 cents,
Mar 27 Corn closed at $4.52 1/4, down 3 cents, currently up 1/2 cent
May 27 Corn closed at $4.60 3/4, down 2 3/4 cents, currently up 1/4 cent
Dec 27 Corn closed at $4.83 1/4, down 2 cents, currently down 1 cent
New Crop Cash was $4.46 3/4, down 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.
More news from Barchart
Grain Prices Are Stuck in Downtrends as the Next USDA Report Looms Corn, Soybean, and Wheat Prices Are Heavily Oversold – a Rebound for Grains Could Be Coming Corn Prices Just Hit Their Most Oversold Level in 2.5 Years as Bulls Bet on a Rebound Harvest Pressure Is Squelching Corn, Soybean, and Wheat Prices