Corn prices are trading with contracts fractionally to a penny higher so far on Tuesday morning. Futures posted steady to fractionally higher trade in deferred contracts on Monday, with front months posting 2 ½ to 3 ¼ cent gains for a dead cat bounce following the sharp Friday USDA-led losses. Open interest was down 24,691 contracts on Monday, mainly in the December contract. The CmdtyView national average Cash Corn price was up 3 1/2 cents at $4.41 1/2. Bulls were battling back after USDA added another 234 mbu of unexpected production on Friday. The harvest price for Crop Insurance is discovered during October, with the average December close so far at $4.96.
The Export Inspections and Crop Progress reports will be released later today due to the federal holiday from Monday.
A couple South Korean importers purchased a combined 261,000 MT of corn in tenders overnight.
COFCO’s futures research director estimates the Chinese corn imports at 3.5 MMT for 2026/27, a 0.17 MMT drop from last year. Sorghum imports are expected to be up 0.55 MMT to 8 MMT.
Dec 26 Corn closed at $4.83, up 3 1/4 cents, currently up 3/4 cent
Nearby Cash was $4.42 1/2, up 3 1/2 cents,
Mar 27 Corn closed at $4.97 1/4, up 3 cents, currently up 1/2 cent
May 27 Corn closed at $5.04 1/2, up 2 1/2 cents, currently up 3/4 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.