Corn futures closed out the Friday session with contracts 1 to 4 ½ cents across the board, as December was 5 ½ cents lower. The CmdtyView national average Cash Corn price was down 3 3/4 cents at $4.35. Now halfway through October the average close for December futures has been $4.91, as the harvest price option for price insurance gets discovered.
USDA reported a private export sale of 127,000 MT of corn for 2026/27 to Japan this morning.
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USDA’s Export Sales report from this morning showed 1.122 MMT in 2026/27 corn sales during the week of 10/8. That was a 45.9% hike from last week and a MY high, but 15.4% below the same week last year. Mexico was the top buyer of 544,500 MT, with 220,100 MT sold to Japan and 199,900 MT to South Korea.
The Friday Commitment of Traders report showed managed money slashing another 86,482 contracts from their net long position in corn futures and options as of 10/13. That took their net long to 230,877 contracts as of Tuesday.
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 closed at $4.74 1/4, down 3 3/4 cents,
Nearby Cash was $4.35, down 3 3/4 cents,
Mar 27 Corn closed at $4.86 1/2, down 4 1/2 cents,
May 27 Corn closed at $4.93 1/2, down 4 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.
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