Corn price action was down 3 to 4 cents on Tuesday morning, easing back from Monday’s strong session. Bulls had added risk ahead of the upcoming US-China meeting, sending contracts up between 3¼ and 15½ cents at Monday’s close, led by the front months. Open interest declined by just 453 contracts, primarily in the front months. The CmdtyView national average Cash Corn price rose 15½ cents to $4.98¾.
Monday’s Crop Progress report tallied 58% of the US corn crop as mature as of September 20, with harvest 13% complete and ahead of the 11% average pace. Condition ratings improved by one percentage point to 57% in good to excellent condition, while the Brugler500 index held steady at 347.
USDA’s FGIS tallied corn export shipments at 1.938 MMT (76.32 mbu) during the week ending September 17, up 24.9% from the prior week and 39.87% above the same week last year. Japan was the leading destination at 591,923 MT, followed by Mexico at 540,979 MT and Colombia at 259,441 MT. Marketing year exports for 2026/27 stand at 4.139 MMT (162.93 mbu), now 15.94% above the same period last year.
US Treasury Secretary Bessent met with Chinese counterparts over the weekend in preparation for this week’s meeting between the leaders of the two countries.
Dec 26 Corn closed at $5.43, up 15½ cents, currently down 4 cents.
Nearby Cash was $4.98¾, up 15½ cents.
Mar 27 Corn closed at $5.56¾, up 15¼ cents, currently down 3¾ cents.
May 27 Corn closed at $5.63, up 14¾ cents, currently down 3½ 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.