Corn Bulls Battling Back on Thursday Morning
Corn prices are trading with 4 to 5 cent gains early on Thursday morning. Futures closed the Wednesday session with contracts slipping 3 to 5 ¾ cents and near session lows. Open interest was up 15,233 contracts on Wednesday, mainly in July, even as December OI dropped 13,755 contracts. There were 319 deliveries against September corn overnight. The CmdtyView national average Cash Corn price was down 5 3/4 cents at $4.81.
USDA reported a private export sale of 182,880 MT of corn to Mexico on Wednesday morning for 2026/27 shipment.
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A Bloomberg survey of traders shows expectations for USDA to cut yield on Friday by an average of 2.6 bpa, to an average of 178.1 bpa. Production is seen dropping 236 mbu from August to 15.777 bbu.
Weekly EIA data will be pushed back this morning due to the Monday holiday, with the Export Sales report out on Friday.
Argentina’s 2026/27 crop is estimated in a range of 67.5 to 70.5 MMT, according to the Rosario Grains Exchange, which is up from the 66 MMT estimate prior.
Sep 26 Corn closed at $5.07 3/4, down 3 1/4 cents, currently up 13 cents
Nearby Cash was $4.81 1/1, down 5 3/4 cents,
Dec 26 Corn closed at $5.27 3/4, down 5 3/4 cents, currently up 4 cents
Mar 27 Corn closed at $5.43 1/4, down 5 3/4 cents, currently up 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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