Corn Futures Hold Steady as Export Shipments Rise

Corn futures closed Monday's session slightly higher across the board, with contracts up by a penny or less. The CmdtyView national average Cash Corn price was down half a cent at $4.08. The USDA reported a private export sale of 105,000 MT of corn to unknown destinations for the 2026/27 crop year.

The Monday Crop Progress report showed that 94% of the US corn crop had silked by August 9, with 61% in the dough stage and 16% dented. US condition ratings remained steady at 61% in good to excellent condition. The Brugler500 index was also unchanged at 356.

Export Inspections reported that corn shipments of 1.74 MMT (68.5 mbu) were up 14.29% from the same week last year but down 7.83% from the previous week. Mexico was the largest destination, receiving 422,988 MT, followed by Japan and Spain.

A Reuters survey of analysts predicts that corn yield will be 182.4 bushels per acre in the upcoming crop production report, 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.