Corn futures are trading with 1 to 3 cent losses at Tuesday’s midday, seeing some limited follow-through from Monday’s action. The CmdtyView national average Cash Corn price was down 1 1/2 cents at $3.82 1/2.
USDA’s Crop Production report from Monday showed US corn yield at 186.5 bpa, which was a 0.5 bpa increase from the November report. Acres were up 1.3 million on the harvested side to 91.3 million acres. That took the production number to 17.021 bbu, up 269 mbu from November. The quarterly Grain Stocks report tallied December 1 corn stocks at 13.282 bbu. That was 1.207 bbu above a year ago.
WASDE data showed US ending stocks raised by 198 mbu, taking the projection to 2.227 bbu. That came via the production adjustment as carryover from 2024/25 was up 19 mbu, and feed raised by 100 mbu. World ending stocks were raised by 11.76 MMT to 290.91 MMT, with the US increase and a 6.24 MMT increase to Chinese production.
A couple South Korean importers purchased a total of 264,000 MT of corn in tenders overnight, with another tender for 140,000 MT issued for a Wednesday deadline.
Mar 26 Corn is at $4.20, down 1 1/2 cents,
Nearby Cash is at $3.82 1/2, down 1 1/2 cents,
May 26 Corn is at $4.28 1/4, down 2 1/4 cents,
Jul 26 Corn is at $4.35 1/2, down 2 1/2 cents,
