Corn price action is trading fractionally to 2 cents lower on Wednesday morning. Futures posted Tuesday gains of 1 to 2 ¼ cents on the session. Preliminary open interest showed a rotation of ownership up just 470 contracts. The CmdtyView national average Cash Corn price was up 1 ¾ cents at $3.70 1/4.
USDA tallied corn export shipments at 1.129 MMT (44.47 mbu) during the week ending on October 9. That was 119.74% above the same week last year but down 33.61% from last week. Mexico was the top destination of 299,156 MT, with 202,680 MT headed to Colombia and 140,416 MT to South Korea. Marketing year exports for 2025/26 are now 7.94 MMT (312.59 mbu) since September 1, which is now 64.97% above the same period last year.
Taiwan purchased 65,000 MT of corn from the US in their tender on Wednesday. Two separate South Korean importers purchased a total of 199,000 MT of corn in tenders overnight, with no official origins listed.
CONAB raised their estimate for the 2025/26 Brazilian corn crop by 0.32 MMT to 138.6 MMT in their latest release this morning. ANEC estimates the October Brazilian corn exports at 6.46 MMT, which was a 0.4 MMT increase from their estimate last week.
Dec 25 Corn is at $4.13, up 2 1/4 cents, currently down 3/4 cent
Nearby Cash is at $3.70 1/4, up 1 3/4 cents,
Mar 26 Corn is at $4.29 1/4, up 2 cents, currently down 1 1/4 cents
May 26 Corn is at $4.38, up 1 1/2 cents, currently down 1 1/4 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. For more information please view the Barchart Disclosure Policy here.
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