Corn Futures Tumble on Monday Midday

Corn futures are trading lower at midday on Monday, down fractionally to 1 cent. The CmdtyView national average Cash Corn price is down a penny at $4.08 1/2. A private export sale of 105,000 MT of corn to unknown destinations was reported by the USDA this morning, all for the 2026/27 marketing year.

The Export Inspections report showed corn shipments of 1.74 MMT (68.5 mbu) in the week of August 6, up 14.29% from the same week last year but 7.83% below the previous week. Mexico was the largest destination at 422,988 MT, with Japan and Spain also receiving significant shipments.

Ahead of the August Crop Production report from NASS next Wednesday, a Reuters survey of analysts shows expected yield at 182.4 bushels per acre, 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 acres.