Corn Futures Extend Losses Amid Chinese Tariff Relief, Export Data

Corn futures extended losses to open the week, weighed down by soybean-driven weakness. Front-month contracts fell 6 to 7 cents, retreating from early-session highs. The CmdtyView national average cash corn price slipped 6 cents to $4.78.

In the wake of last week’s US-China dialogue, China removed tariffs on several American goods, including corn.

The USDA’s weekly Export Inspections report recorded corn export shipments at 1.566 MMT (61.65 mbu) for the week ended September 24, down 20.11% week-over-week but up 1.73% year-over-year. Mexico led destinations with 510,846 MT, followed by South Korea at 338,808 MT and Japan at 251,190 MT. Marketing-year exports for 2026/27 stand at 5.726 MMT (225.43 mbu), 12.08% ahead of the same period last year.

NOAA forecasts indicate heavy rainfall across a broad swath over the next week, with 1 to 4+ inches expected from Texas to the Great Lakes and Nebraska to Indiana.

CFTC Commitment of Traders data showed managed money funds reducing their net long position in corn futures and options by 12,405 contracts to 414,437 as of September 22.

Brazil’s first-corn crop planting reached 34% as of Thursday, according to AgRural, outpacing last year’s 32% pace.

Dec 26 Corn: $5.22 1/4, down 6 cents

Nearby Cash: $4.78 1/1, down 6 cents

Mar 27 Corn: $5.35 3/4, down 6 1/4 cents

May 27 Corn: $5.42 1/2, down 6 1/4 cents

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