Corn Prices Slip at Start of October Amid Lower Sales and Higher Inventory
Corn futures have started October on a down note, with prices ranging from 4 to 5 cents lower so far this Thursday. The national average Cash Corn price has dropped by 2 cents to $4.56 3/4.
The recent Export Sales data showed a surprisingly low 535,989 MT in corn sales for the 2026/27 marketing year, which falls within the estimated range of 0.5-1.3 MMT from last week's estimates. This marks a significant decline compared to the same period last year.
The quarterly Grain Stocks report released by NASS revealed that September 1 stocks of corn stood at 2.095 billion bushels, exceeding last year's count by 544 million bushels and surpassing the WASDE estimate for 2025/26 US corn ending stocks by 173 million bushels.
Corn futures are currently trading at $4.96 3/4 (Dec 26), $4.56 3/4 (nearby Cash), $5.11 1/4 (Mar 27), and $5.18 1/2 (May 27), with prices down by 4 cents, 2 cents, 4 1/4 cents, and 4 3/4 cents respectively.