Corn Futures Gain Early Ground in Tuesday Session

Corn futures rose 4 to 5 cents Tuesday morning. Monday’s close saw nearby December contracts down ½ cent, other front months steady, and deferreds fractionally to a penny higher. Open interest declined 853 contracts, pointing to a rotation of ownership. The CmdtyView national average cash corn price was down ¼ cent at $4.59¾.

USDA reported a private export sale of 129,540 MT of corn to Mexico on Monday morning, all for 26/27 shipment.

Monday’s Crop Progress report showed 83% of the US corn crop mature as of October 4, with harvest at 23% complete and 4 percentage points behind the average pace. Condition ratings fell 3% to 54% in good to excellent condition, while the Brugler500 index dropped 5 points to 342.

USDA’s weekly Export Inspections report tallied corn export shipments at 1.368 MMT (53.84 mbu) for the week ending October 1. That was down 19.63% from the prior week but 13.49% above the same week last year. Mexico led as the top destination with 539,844 MT, followed by Japan at 372,508 MT and Colombia at 177,792 MT. Marketing year exports for 2026/27 stand at 7.11 MMT (279.91 mbu), now 4.4% above the same period last year.

AgRural estimates the Brazilian first corn crop at 38% planted as of last Thursday, behind the 40% from the same week a year ago.

Dec 26 Corn closed at $4.97¼, down ½ cent, currently up 4¾ cents. Nearby Cash was $4.59¾, down ¼ cent. Mar 27 Corn closed at $5.11½, unchanged, currently up 4¾ cents. May 27 Corn closed at $5.18½, unchanged, currently up 5 cents.

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