Corn Holds within a Penny of Unchanged on Monday

Corn futures closed out the Monday session with contracts down ¾ to a penny higher across the board. The CmdtyView national average Cash Corn price was down ½ cent at $4.08.

USDA reported a private export sale of 105,000 MT of corn to unknown destinations this morning, all for 2026/27.

Monday’s Crop Progress report showed 94% of the US corn crop silking by August 9, with 61% in the dough stage, 6 percentage points ahead of normal. The crop was also 16% dented. US condition ratings were steady this week at 61% in good to excellent condition, as the Brugler500 index was also unchanged at 356.

This morning’s Export Inspections report showed corn shipments of 1.74 MMT (68.5 mbu) in the week of 8/6. That was up 14.29% from the same week last year but 7.83% below the week prior. Mexico was the largest destination of 422,988 MT, with 328,351 MT shipped to Japan and 320,284 MT to Spain. The marketing year total is now 79.02 MMT (3.11 bbu) of corn exports, which is now 25.0% ahead of the same period last year with less than a month left in the marketing year. 

Ahead of the August Crop Production report from NASS next Wednesday, a Reuters survey of analysts shows expected yield at 182.4 bushels per acre, with a range of 180.5 to 184.8 bpa. Production is estimated at 15.934 bbu, as harvested acres are expected to be trimmed by 76,000 acres. Ending stocks are seen at 1.999 bbu for old crop, down 21 mbu from last month. New crop stocks are expected to be down 65 mbu to 1.725 bbu. 

Brazil’s second crop was tallied at 79% harvested in the center south region according to AgRural. That lags the 88% pace from the same time last year.

Sep 26 Corn  closed at $4.38 1/4, down 3/4 cent,

Nearby Cash  was $4.08 1/1, down 1/2 cent,

Dec 26 Corn  closed at $4.61 3/4, down 1/4 cent,

Mar 27 Corn  closed at $4.77 1/4, down 1/2 cent,

New Crop Cash  was $4.12 1/1, down 1/4 cent,