Corn futures closed the Tuesday session with contracts fractionally to a penny lower across the board. The CmdtyView national average Cash Corn price was unch at $4.42 1/2.
The delayed Tuesday Crop Progress report showed 91% of the US corn crop mature as of October 11, with harvest at 33% complete and 6 percentage points behind the average pace. Condition ratings were back up 2% this week at 56% in good to excellent condition, as the Brugler500 index was 4 points lower higher at 346.
USDA’s weekly Export Inspections report tallied corn export shipments at 1.302 MMT (51.26 mbu) during the week ending on October 8. That was down 7.2% from the week prior but 7.57% above the same week last year. Mexico was the top destination of 466,356 MT, with 277,161 MT headed to Japan and 274,744 MT to South Korea. Marketing year exports for 2026/27 are 8.44 MMT (332.55 mbu), which is now 5.32% above the same period last year.
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 $4.82 3/4, down 1/4 cent,
Nearby Cash was $4.42 1/2, unch,
Mar 27 Corn closed at $4.96 1/2, down 3/4 cent,
May 27 Corn closed at $5.04, down 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.