Corn futures were fighting to stay above $5 for much of the session despite hitting a low of $4.95 in the December contract. Bulls battled back to close with contracts steady to 1 ½ cents higher. The CmdtyView national average Cash Corn price was up 3 1/4 cents at $4.61 1/4.
Export Sales data from this morning showed just 535,989 MT in corn sales for 2026/27. That was the lowest of the 4 weeks in the new marketing year and less than half of the same week last year. Mexico was the top buyer of 252,200 MT, with 101,200 MT sold to Colombia.
USDA’s monthly Grain Crushing report was out on Thursday with a total of 477.7 mbu of corn used for ethanol in August, as July was revised 2 mbu higher. That was 0.3% above last month and 4% larger yr/yr. Marketing year corn used for ethanol was 5.547 bbu, 3 mbu below the USDA projection.
StoneX revised their US corn yield down 0.8 bpa this month at 182.1 bpa, which trimmed their production total by 92 mbu to 16.115 bbu. Brazil’s first corn crop is estimated at 29.3 MMT according to StoneX, steady with last month.
Dec 26 Corn closed at $5.02 1/4, up 1 1/2 cents,
Nearby Cash was $4.61 1/4, up 3 1/4 cents,
Mar 27 Corn closed at $5.16 3/4, up 1 1/4 cents,
May 27 Corn closed at $5.23 3/4, up 1/2 cent,
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.