Corn Back to Unchanged at Midday

The corn market opened the day session with weakness, but bulls are battling back at midday with contracts steady to fractionally mixed. The national average Cash Corn price from cmdtyView is down 1/4 cent at $3.99 1/2 per bu. 

USDA reported a private export sale of 120,000 MT of corn to unknown destinations this morning. Export Sales data showed 2.766 MMT in 2024/25 corn bookings in the week of 10/31, exceeding the 1.7 to 2.5 MMT estimates. That was the second largest total we’ve seen so far in the marketing year and more than double the same week last year. The largest buyer was Mexico at 1.395 MMT, with 673,500 MT sold to unknown destinations. Sales for 2025/26 were 65,532 MT. 

The WASDE report on Friday is expected to show corn ending stocks for the US at 1.946 bbu, which would be down 53 mbu from last month’s estimate. The range of estimates is 1.828 to 2.071 bbu. World corn carryout is expected to be down 0.82 MMT to 305.7 MMT.

Brazil corn exports totaled 6.406 MMT in October, which is more than 2 MMT below the same month last year. A South Korean importer purchased a total of 65,000 MT of optional origin corn overnight, with US included in the list of possible origins. Algeria issued a tender of 240,000 MT of Argentine or Brazilian corn, with a Friday deadline.

Dec 24 Corn is at $4.25 3/4, down 1/2 cent,

Nearby Cash is at $3.99 1/2, down 1/4 cent,

Mar 25 Corn is at $4.39, unch,

May 25 Corn is at $4.45 3/4, unch,