Corn Prices Remain Steady Amid Mixed Export Data

Corn futures are showing minimal movement early in the trading week, with contracts trading fractionally mixed on Monday. The CmdtyView national average cash corn price remains steady at $4.59 3/4 per bushel. The USDA reported a private export sale of 129,540 metric tons of corn to Mexico, scheduled for shipment in the 2026/27 marketing year.

The USDA’s weekly Export Inspections report revealed that corn export shipments totaled 1.368 million metric tons during the week ending October 1, marking a 19.63% decline from the previous week but a 13.49% increase compared to the same week last year. Mexico was the top destination, receiving 539,844 metric tons, followed by Japan with 372,508 metric tons and Colombia with 177,792 metric tons. Marketing year exports for 2026/27 now stand at 7.11 million metric tons, up 4.4% from the same period last year.

Weekly CFTC data indicated that managed money trimmed 36,587 contracts from their net long position in corn futures and options as of September 29, bringing the net long position to 377,850 contracts. Much of this reduction came from long liquidation. Additionally, AgRural estimates that the Brazilian first corn crop is 38% planted as of last Thursday, slightly behind the 40% planted during the same week last year.

Looking at specific contracts, December 2026 corn is trading at $4.97 1/2, down 1/4 cent. Nearby cash corn is steady at $4.59 3/4, unchanged. March 2027 corn is at $5.11 1/2, unchanged, while May 2027 corn is up 1/4 cent at $5.18 3/4.