Corn prices are getting a bounce on Wednesday morning, up 1 to 3 cents Futures closed the Tuesday session with contracts down 3 to 6 ¼ cents across much of the board. Open interest suggested new short interest on Tuesday, rising 18,872 contracts. The CmdtyView national average Cash Corn price was down 6 cents at $4.11 1/2. The average close for December corn futures in October has been $4.79, as there are just 4 days left for the harvest price crop insurance discovery period.
Crop Progress data showed 60% of the US corn harvest complete as of October 25, 6 percentage points behind the average pace. Condition ratings were steady this week at 56% in good to excellent condition, with the Brugler500 index dropping 2 points to 345. That is the final rating for the year.
The NOAA 7-day forecast shows anywhere from 1 to 2 inches of precip expected from just east of the Rockies to the Appalachians. The heaviest totals are seen along the Missouri River in SD, NE, IA, KS and MO.
USDA GAIN reports from Monday showed the USDA attaché in Argentina at 62 MMT for 2026/27 production, well above the current official number at 55 MMT.
Brazil’s ANEC estimates the country’s corn exports at 6.1 MMT for October, down from their previous number at 6.87 MMT. That would be a 17% increase from September but still down 6.16% from last year.
Dec 26 Corn closed at $4.48 3/4, down 6 1/4 cents, currently up 2 1/2 cents
Nearby Cash was $4.11 1/2, down 6 cents,
Mar 27 Corn closed at $4.62 3/4, down 6 cents, currently up 2 cents
May 27 Corn closed at $4.71 1/4, down 6 1/4 cents, currently up 1 1/2 cents
Dec 27 Corn closed at $4.90, down 4 cents, currently up 1/2 cent
New Crop Cash was $4.43 3/8, down 3 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.