Corn futures surged on Tuesday, November 10, 2026, with contracts rising between 3 ¼ and 9 ¾ cents across the board. The CmdtyView national average cash corn price climbed 10 1/4 cents to $4.15 3/4. The USDA reported a private export sale of 312,700 metric tons of corn to Mexico for the current marketing year, adding to the bullish sentiment.
The USDA's NASS Crop Production report revealed a lower-than-expected corn yield projection of 179.6 bushels per acre, down 1.6 bushels from the October estimate. Total production was recorded at 15.893 billion bushels, 141 million bushels below last month's figure. This led to a significant reduction in US ending stocks, which were cut by 91 million bushels to 1.758 billion bushels due to the production number, despite a 50 million bushel trim in demand.
Globally, the WASDE data showed an increase in world carryout for 2026/27 by 1.5 million metric tons to 281.94 million metric tons. This was primarily due to higher revisions for South American corn production, with Brazil and Argentina each seeing a 2 million metric ton increase. The USDA also revised their 2025/26 Brazilian corn number higher by 3.5 million metric tons to 144.5 million metric tons.
The NASS Crop Progress report indicated that the US corn harvest was 81% complete as of November 8, 2026, moving 7% on the week but still lagging 5 percentage points behind the 5-year average. Key contract closings included December 2026 corn at $4.49, up 9 3/4 cents, and March 2027 corn at $4.61 1/2, up 9 1/4 cents.