Corn futures experienced modest losses on Tuesday, with contracts closing down by fractions to 2 ¾ cents. The national average cash corn price recorded a decline of ½ cent, landing at $4.79 ½. According to the latest NASS Crop Progress report, as of September 27, 72% of the U.S. corn crop is now mature, and 18% has been harvested, matching the average pace. The condition rating remains steady at 57% rated in good to excellent condition.
The 7-day Quantitative Precipitation Forecast from NOAA predicts heavy rains across the central and western corn belt, particularly affecting the Eastern Corn Belt in the latter half of the week. Ahead of the NASS Grain Stocks report set for Wednesday, traders anticipate that September 1 corn stocks will total 1.911 billion bushels, substantially above last year’s 1.551 billion bushels, although slightly below the WASDE estimate for 2025/26 ending stocks. In Brazil, corn exports for September are projected at 5.4 million metric tons, down 0.57 million from previous estimates.
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