Corn Futures Slide Under Pressure from Commodity Declines

Corn futures fell on Friday due to pressure from declines in related commodities like beans and wheat. The December corn contract dropped 2¾ cents for the week, while the CmdtyView national average Cash Corn price slid 3 cents to $4.82¼. This weakness was also influenced by losses in crude oil.

The Commitment of Traders data from the CFTC revealed that managed money added back 1,671 contracts to their net long position in corn futures and options. As of September 15, this position stood at 426,842 contracts. With the meeting between President Trump and China's President Xi scheduled for next week, there has been a lack of corn sales to China, keeping export wires quiet.

Export Sales data showed that corn export commitments for the 2026/27 season are now down 27% from the same period last year. This represents just 21% of the USDA's export projection and is behind the 28% seen in both the previous year and the five-year average. In a separate development, South Korean importers purchased a total of 130,000 MT of corn through a tender overnight, following 260,000 MT in sales from Thursday.