Corn Prices Plummet on Wednesday Amid USDA Reports
Corn futures are down by 2 to 3 1/2 cents on Wednesday as traders react to the latest USDA reports and export sales data. The CmdtyView national average Cash Corn price has fallen 3 cents to $4.84 1/2.
The USDA reported a private export sale of 182,880 MT of corn to Mexico for delivery in the 2026-27 crop year. This news may indicate increased demand from major markets and could influence future prices.
This week's Crop Progress report showed that 76% of the US corn crop has dented as of September 6, with 25% listed as mature and harvest at 5% complete. Condition ratings were down 1 percentage point this week at 46%, with several states seeing a decline in good to excellent condition.
StoneX has trimmed their estimate for the 2026 US corn yield by 1.9 bpa from their previous number, predicting production at 16.207 bbu using USDA's acreage number. A Bloomberg survey of traders indicates that expectations for USDA to cut yield on Friday by an average of 2.6 bpa, to an average of 178.1 bpa.