Commodities
Corn Futures Plummet Amid Private Export Sale and Yield Expectations
Corn futures ended the Wednesday session on a downward trend, closing between 3 to 5 ¾ cents lower than the previous day. The national average Cash Corn price was down by 5 3/4 cents at $4.81.
The USDA reported a private export sale of 182,880 MT of corn to Mexico for shipment in 2026/27. This week's Crop Progress report showed condition ratings down 1 percentage point from last week, with 46% of corn in good to excellent condition.
A Bloomberg survey of traders predicts the USDA will cut yield on Friday by an average of 2.6 bpa, to an average of 178.1 bpa. Production is expected to drop 236 mbu from August to 15.777 bbu.