Corn Holding onto Double Digit Gains at Midday

Corn futures soared higher on Sunday night, with midday gains remaining strong at 11 to 12 ½ cents. The CmdtyView national average Cash Corn price reached 12 ½ cents more, sitting at $4.67 ½. The Export Inspections report for Monday revealed corn shipments of 1.296 MMT (51.03 mbu) during the week of August 20, marking a 33.32% decrease from the previous week and 3.16% lower than the corresponding week last year.

Mexico was the top destination, receiving 387,748 MT, followed by Japan with 306,842 MT and Colombia with 101,360 MT. Overall, the marketing year export total now stands at 82.28 MMT (3.239 bbu), which is 25.51% higher than the same period last year, with only a week remaining. Pro Farmer Crop Tour insights suggest US national yield at 173.2 pba, with production at 15.344 bbu.

According to weekly CFTC data, managed money spec traders held a net long position of 250,505 contracts in corn futures and options by August 18, an increase of 83,735 contracts from the previous week, combining new positions and covering shorts. As of Thursday, 92% of the 2025/26 second corn crop was harvested, falling short of the usual 98% average.

The estimate for the first corn crop of 2026/27 is that 2% has been planted, behind last year's pace of 3.2%. On September 26, Corn was trading at $4.96 ¼, up 12 ½ cents, Nearby Cash was at $4.67 ½, up 12 ½ cents, March 27 Corn was at $5.35 ¼, up 11 ¾ cents, and New Crop Cash was at $4.71 ¼, up 12 ½ cents. As of the publication date, Austin Schroeder had no stake in any of the securities mentioned. All information and data presented are for informational purposes only.