Corn price action is showing fractional gains so far on Monday morning. Futures closed out the Friday session with contracts down 10 to 11 ½ cents. Despite the losses, December closed with a gain of 3 cents on the week. Friday’s preliminary open interest rose 10,323 contracts, suggesting new selling interest. The CmdtyView national average Cash Corn price was down 11 cents at $3.91 ½.
After a month off, USDA released an updated Crop Production report on Friday, showing corn yield at 186 bpa. That was just a 0.7 bpa decrease from the September report and dropped output by 62 mbu to 16.752 bbu. Traders were looking for a 184 bpa yield number. As per the WASDE, there was a 207 mbu increase to the 2024/25 carryout number at 1.532 bbu, expected from the September Grain Stocks report, which took total 2025/26 supply 144 mbu higher to 18.309 bbu. Other demand changes came from exports (+100 mbu), which limited the increased the 2025/26 carryout estimate to 44 mbu to 2.154 bbu. The cash average price was also raised by a dime to $4.00.
