Corn Falls on Monday with USDA Report Ahead

Corn futures closed the Monday session with contracts slipping 2 to 3 cents lower into the final bell. The CmdtyView national average Cash Corn price was down 1 1/2 cents at $4.05 3/4. 

USDA reported a private export sale of 110,000 MT of corn to Mexico this morning, all for 2026/27.

NASS Crop Progress data showed the US corn harvest at 81% complete as of November 8, moving 7% on the week but still 5 percentage points back of the 5-year average.

USDA’s FGIS tallied corn export shipments at 905,267 MT (35.64 mbu) during the week ending on November 5. That was 0.77% above the week prior but 39.03% below the same week last year. Mexico was the top destination of 371,855 MT, with 238,782 MT headed to Colombia and 130,643 MT to Japan. Marketing year exports for 2026/27 are 11.59 MMT (456.45 mbu) since September 1, which is now 15.89% below the same period last year.

The monthly NASS Crop Production report will be released on Tuesday, with traders looking for corn yield to be trimmed by 0.6 bushel per acre, at 180.6 bpa according to a Bloomberg survey. Production is estimated to be cut by 54 million bushels to 15.98 billion bushels. USDA’s WASDE report is expected to show US ending stocks down 3 mbu to 1.846 bbu. 

USDA’s annual baseline projections were released on Monday showing an arm chair projection of 95.5 million corn acres for 2027/28, down from 96.8 million this year if realized.

AgRural estimates the Brazilian first corn crop at 71% planted near the 72% pace from last year. APK-Inform estimates the Ukrainian corn crop at 29.1 MMT, down 2.7 MMT from their previous number.

Dec 26 Corn  closed at $4.39 1/4, down 2 1/4 cents,

Nearby Cash  was $4.05 3/4, down 1 1/2 cents,

Mar 27 Corn  closed at $4.52 1/4, down 3 cents,

May 27 Corn  closed at $4.60 3/4, down 2 3/4 cents,

Dec 27 Corn  closed at $4.83 1/4, down 2 cents,

New Crop Cash  was $4.46 3/4, down 2 cents,

On the date of publication, Austin Schroeder did not directly have a position 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.