Corn futures trading has seen an increase of 1 to 2 cents at midday. This price increase comes as 35 shipments were issued against September futures on Friday, with the expiration deadline for these contracts being today. The average cash price of corn in CmdtyView has risen by 2 cents to $4.86 3/4.
Export Report and Its Impacts
The export report released on Monday shows that corn shipments for the week ending September 10 reached 1.525 million tons (60.06 million bushels). This amount represents an 8.91 percent decrease compared to last week and is 0.54 percent lower than the same week last year. Mexico is the largest destination with 478,113 tons, followed by South Korea with 275,525 tons and Japan with 207,502 tons. Total shipments for the new marketing year have reached 2.174 million tons (85.57 million bushels), which is 0.46 percent lower than the same time in 2025/26.
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Changes in Futures Contracts and Forecasts
A weekly update from the CFTC shows that managed investors have reduced 5,891 contracts from their long positions in corn futures and options. However, this long position still remains at 425,171 contracts as of September 3.
In Brazil, 22 percent of the first corn crop for the 2026/27 season has been planted as of Thursday, which is higher than the 17 percent last year. Additionally, APK-Inform estimates that Ukraine's corn crop for the 2026/27 season will reach 32.3 million tons, which is 2.5 million tons more than their previous forecast. The export estimates for corn for the marketing year are also 22 million tons.
Currently, corn prices are as follows: for December 26, the price has reached $5.32 1/4, an increase of 2 cents. The nearby cash price has also increased by 2 cents to $4.86 3/4, while March 27 is at $5.47 1/2 with a 2 cent increase, and May 27 is at $5.54 3/4 with an increase of 1.75 cents.
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