Corn futures have declined by 3 to 7 cents across most contracts, with March corn experiencing 241 deliveries as of Friday night. The CmdtyView national average cash corn price decreased by 6.5 cents to $4.12 ¾. In contrast, crude oil prices rose by $3.97, nearly $25 higher than overnight levels.
During the week ending March 5, USDA’s FGIS reported corn export shipments totaling 1.518 million metric tons (59.75 million bushels), an 18.4% drop from the previous week and 17.7% lower than the same time last year. Mexico topped the export destinations with 497,964 metric tons, followed by Japan (243,022 metric tons) and Colombia (203,726 metric tons). Marketing year exports for 2025/26 reached 41.21 million metric tons (1.622 billion bushels) since September 1, up 41.54% from last year.
Traders are anticipating USDA’s WASDE report on Tuesday, which is expected to show U.S. corn ending stocks at 2.136 billion bushels, a 9 million bushel increase. Commitment of Traders data revealed that spec funds switched to a net long position in corn futures and options, totaling 52,974 contracts, marking the largest net long position since last April. Meanwhile, Brazil’s AgRural reported that 42% of the first corn crop has been harvested, trailing last year’s 54%, while the second corn crop is 82% planted, down from 92% a year ago.
