Corn Futures Hold Steady Amid Export Sale and Yield Predictions
Corn futures remained steady to fractionally higher on Friday, closing at $4.39 per contract for September 26. The CmdtyView national average Cash Corn price stayed unchanged at $4.09 1/2.
The USDA reported a private export sale of 286,097 metric tons (MT) of corn to Mexico, with 29,808 MT allocated for the 2026/27 crop year and 256,289 MT for 2027/28.
A Reuters survey of analysts predicts a yield of 182.4 bushels per acre for the current growing season, with a range of 180.5 to 184.8 bpa. The estimated production is 15.934 billion bushels (bbu), as harvested acres are expected to be reduced by 76,000.
CFTC data showed managed money adding just 13,547 contracts to their net long in corn futures and options in the week of August 4. Their net long was at 181,946 contracts as of Tuesday.