Corn futures closed the Wednesday session with contracts slipping 3 to 5 ¾ cents and near session lows. The CmdtyView national average Cash Corn price was down 5 3/4 cents at $4.81.
USDA reported a private export sale of 182,880 MT of corn to Mexico this morning for 2026/27 shipment.
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This week’s Crop Progress report showed condition ratings down 1 percentage point this week at 46% in good to excellent condition, as the Brugler500 index was steady at 347. Via the Brugler500, ratings were down in IL (-3), IA (-1), KS (-8), MN (-6), MO (-9), NE (-3), ND (-11), and WI (-1). Improvement was noted in CO (+17), KY (+13), MI (+4), OH (+3), and SD (+13).
A Bloomberg survey of traders shows expectations for USDA to cut yield on Friday by an average of 2.6 bpa, to an average of 178.1 bpa. Production is seen dropping 236 mbu from August to 15.777 bbu.
Weekly EIA data will be pushed back to Thursday due to the Monday holiday, with the Export Sales report out on Friday.
Argentina’s 2026/27 crop is estimated in a range of 67.5 to 70.5 MMT, according to the Rosario Grains Exchange, which is up from the 66 MMT estimate prior.
Sep 26 Corn closed at $5.07 3/4, down 3 1/4 cents,
Nearby Cash was $4.81 1/1, down 5 3/4 cents,
Dec 26 Corn closed at $5.27 3/4, down 5 3/4 cents,
Mar 27 Corn closed at $5.43 1/4, down 5 3/4 cents,
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