Corn Futures Plummet to Three-Week Low Amid Profit-Taking Pressure

Corn futures fell to their lowest level in three weeks as profit-taking pressure and weak long liquidation weighed on prices. The market feels heavy at present, with December corn trading near $5.29.

The USDA reported daily U.S. corn sales of 100,000 MT to Mexico during 2026-27, but this failed to boost the market. Meanwhile, grain trade association Coceral cut its forecast for this year's corn output in the European Union to 48.6 MMT from 52.7 MMT.

Traders are awaiting Thursday morning's weekly USDA export sales report, which is expected to show U.S. corn sales of 500,000 to 1.6 million MT in all marketing years.