Corn futures posted losses of 4 ¼ to 6 ¼ cents across most contracts on Tuesday, closing within a couple pennies of the low. The CmdtyView national average Cash Corn price was down 6 1/4 cents at $4.91 1/2. While some have been looking for China to buy US corn ahead of this week’s meeting, it would be in part as good will positioning, as the spread between the two counties (CBoT vs. Dalian Corn futures) has been narrowed by nearly $2 since June to less than $3/bu.
Monday’s Crop Progress report showed US condition ratings back up 1 percentage point this week at 57% in good to excellent condition, as the Brugler500 index held steady at 347. By state, IL was down 3, with NE ratings dropping 11 points, MI down 25, and SD slipping 2 points. Some improvement was noted in MN by 4, with MO up 5 and ND 12 points better.
Harvest may be slow in the west this week with MN, IA, the Dakotas, NE, KS and parts of MO expected to see anywhere from 1 to 4 inches. the heaviest totals near northeast NE, northwest IA and Southeast SD.
The Buenos Aires Grain Exchange estimates the 2026/27 Argentina corn crop 66 MMT, which would be above the 64 MMT from last year. The crop was reported at 11.1% planted.
ANEC estimates the Brazilian corn export total for September at 5.97 MMT, a 0.23 MMT increase from their previous projection. While that would be a 28.25% increase from August, is would be a 21.06% drop from a year ago.
Dec 26 Corn closed at $5.36 3/4, down 6 1/4 cents,
Nearby Cash was $4.91 1/2, down 6 1/4 cents,
Mar 27 Corn closed at $5.51, down 5 3/4 cents,
May 27 Corn closed at $5.57 3/4, down 5 1/4 cents,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
