Corn Prices Tumble Amid Weaker Export Numbers
Corn futures are trading lower on Monday, with prices down fractionally to 1 cent from last week's close. The CmdtyView national average Cash Corn price is currently at $4.08 1/2, a penny lower than the previous day's closing price. According to the USDA, there was a private export sale of 105,000 MT of corn to unknown destinations this morning, all for the 2026/27 marketing year.
The Export Inspections report showed that corn shipments increased by 14.29% in the week of August 6 compared to the same week last year, but were down 7.83% from the previous week. Mexico was the largest destination for corn exports, with 422,988 MT shipped, followed by Japan and Spain.
Ahead of the August Crop Production report from NASS next Wednesday, a Reuters survey of analysts predicts an expected yield of 182.4 bushels per acre, with production estimated at 15.934 billion bushels. Ending stocks for old crop corn are seen at 1.999 billion bushels, down 21 million bushels from last month.