Corn Bulls Push Back off Overnight Lows

Corn futures closed the Thursday session with contracts mixed, as front months were down 1 ½ to 3 ½ cents and deferreds fractionally higher. Most 2026/27 contracts were 12 to 15 cents off their overnight lows. The CmdtyView national average Cash Corn price was down 3 1/4 cents at $4.94 1/2.

Early this morning Russia’s President Putin stated there was a chance of the peace deal with Ukraine. 

USDA released Export Sales data this morning with old crop seen at net cancellations of 829,569 MT for 2025/26 corn. That was a marketing year low. There were 721,400 MT in cancellations for unknown (most likely switched to a destination), with Japan cancelling 360,500 MT. New crop 2026/27 bookings during the week ending on August 27 totaled at 1.986 MMT. That was a marketing year high but 6.2% below the same week last year. Mexico was the buyer of 665,000 MT, with 371,800 MT sold to Japan, and 353,300 MT to unknown destinations.

Census data was released this morning, showing 7.48 MMT (294.4 mbu) of corn shipped in July, a record for the month. That was a 22.63% increase from last year but a 5.65% drop from June. Distillers exports were 1.1 MMT, up 3.84% from last year. Ethanol shipments in July totaled 199.5 million gallons, which was a record for the month. 

Sep 26 Corn  closed at $5.15 1/4, down 3 1/2 cents,

Nearby Cash  was $4.94 1/2, down 3 1/4 cents,

Dec 26 Corn  closed at $5.40 3/4, down 2 3/4 cents,

Mar 27 Corn  closed at $5.56, down 2 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.