Corn futures are fractionally lower in the front months, with some other contracts fractionally higher. The CmdtyView national average Cash Corn price is down 4 cents at $4.10 1/4.
USDA reported a private export sale of 1.73 MMT of corn to Mexico, with 1.135 MMT for the current marketing year and 594,360 MT for 2027/28.
USDA’s FGIS tallied corn export shipments at 884,766 MT (34.82 mbu) during the week ending on October 29. That was 38.63% above the week prior but 48.32% below the same week last year. Mexico was the top destination of 520,923 MT, with 78,869 MT headed to Colombia and 51,985 MT to Saudi Arabia. Marketing year exports for 2026/27 are 10.676 MMT (420.28 mbu) since September 1, which is now 13.21% below the same period last year.
Acres left to be harvested may slowed be the first half of this week following Sunday rains, with the NOAA 7-day QPF showing upwards of 1-2 inches across much of the Corn Belt in the next couple days.
Friday’s Commitment of Traders report showed managed money and corn futures and options cutting another 90,314 contracts from their net long as of Tuesday. They were net long just 55,943 contracts on October 27th, as there was mix of new short interest and longs liquidating.
The Buenos Aires Grain Exchange estimates the Argentina corn crop at 47.3% planted, well above the average pace near 33%. AgRural estimates the first corn crop at 63% planted, ahead of the 59% pace from last year.
Dec 26 Corn is at $4.47, down 3/4 cent,
Nearby Cash is at $4.10 1/4, down 4 cents,
Mar 27 Corn is at $4.60 3/4, down 1/4 cent,
May 27 Corn is at $4.69 1/2, up 1/2 cent,
Dec 27 Corn is at $4.87 3/4, up 1/4 cent,
'27 New Crop Cash is at $4.47 1/2, up 3 3/4 cents,
On the date of publication, Austin Schroeder did not directly have a position 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.