Corn Futures Rebound Early Tuesday Following Monday’s Decline

Corn futures began the Tuesday session on a positive note, recovering 2 to 2 ½ cents after suffering losses of 1 to 5 ½ cents across the board during the previous trading day. Monday’s session saw contracts pull back from early lows to close lower, with open interest decreasing by 5,437 contracts, primarily in the December contract. The CmdtyView national average Cash Corn price fell 5 1/4 cents to settle at $4.79 3/4.

According to the Monday NASS Crop Progress report, 72% of the US corn crop was listed as mature as of September 27, with harvest progress at 18% complete, matching the average pace. Crop condition ratings remained steady this week, with 57% of the crop rated in good to excellent condition, while the Brugler500 index held unchanged at 347.

USDA’s weekly Export Inspections report recorded corn export shipments at 1.566 MMT (61.65 mbu) for the week ending September 24. This represents a 20.11% decrease from the previous week, though it remains 1.73% above the same period last year. Mexico was the leading destination, receiving 510,846 MT, followed by South Korea with 338,808 MT and Japan with 251,190 MT. Total marketing year exports for 2026/27 reached 5.726 MMT (225.43 mbu), sitting 12.08% above the comparable period from the previous year.

Looking ahead to Wednesday’s Grain Stocks report from NASS, Bloomberg surveyed traders anticipate September 1 corn stocks at 1.911 billion bushels. This estimate is significantly higher than the 1.551 billion bushels recorded last year, though it represents a modest reduction compared to the WASDE estimate for 2025/26 US corn ending stocks.

December 26 Corn closed at $5.23, down 5 1/4 cents, and is currently up 2 1/4 cents.

Nearby Cash Corn was quoted at $4.79 3/4, down 5 1/4 cents.

March 27 Corn closed at $5.36 1/2, down 5 1/2 cents, and is currently up 2 cents.

May 27 Corn closed at $5.43 1/2, down 5 1/4 cents, and is currently up 2 cents.

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