Corn Prices Surge on Lower Stocks and Yields

Corn futures rallied on Wednesday after the US Department of Agriculture's Crop Production report showed a smaller corn yield and lower stocks. The CmdtyView national average Cash Corn price rose by 20 1/4 cents to $4.27 1/4. Planted acreage was revised up by 1.4 million acres from June, while harvested acreage increased by 1.2 million acres. Total production for the 2025/26 crop year came in at 16.013 billion bushels (bbu), exceeding July's WASDE estimate by 13 million bushels.

The USDA also reported a decrease of 75 million bushels in ending stocks for the 2025/26 crop year due to higher exports. New crop stocks were pegged at 1.653 bbu, down from last month's carryover. World ending stocks fell by 0.6 million metric tons (MMT) to 274.66 MMT.

Production in Brazil was increased to 140 MMT for the 2025/26 crop year, while Argentina's estimate remained at 63 MMT, but the Rosario Grains Exchange raised their projection to 70.5 MMT.