Corn prices are seeing a slight decline early on Friday morning, with futures down 2 cents. The trading session on Thursday ended with mixed results, as contracts ranged from a penny lower to 1 ¼ cents higher. Open interest rose by 9,092 contracts, indicating some activity in the market. The CmdtyView national average cash corn price remained unchanged at $4.14 3/4.
The average closing price for December corn futures in October has been $4.76, with just one day left in the harvest price crop insurance discovery period. The USDA's Export Sales report from Thursday revealed 1.304 MMT in 2026/27 corn sales for the week of 10/22, a 14.6% drop from the previous week and 28.8% below the same week last year. The largest buyer was an unknown destination, purchasing 411,800 MT, followed by Mexico with 318,90 MT and Japan with 251,000 MT.
Overnight, a couple of South Korean importers bought a total of 204,000 MT in tenders. December 2026 corn futures closed at $4.51 1/4, down 1/2 cent, and are currently down 2 cents. Nearby cash corn was unchanged at $4.14 3/4. March 2027 corn futures closed at $4.64 3/4, down 1/4 cent, and are currently down 2 cents. May 2027 corn futures closed at $4.73, up 1/4 cent, and are currently down 2 cents. December 2027 corn futures closed at $4.89, down 1 cent, and are currently down 1 1/2 cents. New crop cash corn was down 3/4 cent at $4.43 3/4.