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Corn futures tick lower as USDA export sale and shipments rise
A USDA private export sale of 105,000 metric tons for 2026/27 was reported, while weekly corn shipments totaled 1.74 million metric tons.
Corn futures were slightly lower at midday on Monday, with the CmdtyView national average cash corn price down a penny to $4.08 1/2.
The USDA reported a private export sale of 105,000 MT of corn to unknown destinations for 2026/27. An export inspections update showed shipments of 1.74 MMT, up 14.29% from the same week a year earlier but 7.83% below the prior week, with Mexico the largest destination at 422,988 MT.
Mexico also led among international buyers in the week’s shipments, with Japan taking 328,351 MT and Spain receiving 320,284 MT. The marketing year total is now 79.02 MMT of corn exports, 25.0% ahead of the same period last year with less than a month left in the marketing year.
Ahead of the August Crop Production report from the USDA’s NASS next Wednesday, a Reuters survey cited expectations for a 182.4 bushels per acre yield, with a range of 180.5 to 184.8. The outlook includes production of 15.934 billion bushels, old crop ending stocks of 1.999 billion bushels, and new crop stocks of 1.725 billion bushels, according to the same survey cited by Yahoo Finance.
Latest closeCorn $460.50 ▲5.1%