Corn futures are experiencing marginal midday losses, trading down by 1 cent on Monday. The current average cash corn price stands at $4.08 1/2 per bushel, down a penny from previous figures. The USDA reported a private export sale of 105,000 metric tons of corn to unspecified destinations for the 2026/27 marketing year.
In the week ending August 6, corn export shipments totaled 1.74 million metric tons (68.5 million bushels), an increase of 14.29% compared to the same week last year, but 7.83% lower than the previous week. Mexico was the largest importer, receiving 422,988 metric tons, followed by Japan with 328,351 metric tons and Spain with 320,284 metric tons. Cumulatively, the marketing year total stands at 79.02 million metric tons, marking a 25% increase from last year.
Looking ahead, a Reuters survey shows analysts expect an average corn yield of 182.4 bushels per acre, with estimated production at 15.934 billion bushels. Ending stocks for old crop corn are projected to decrease by 21 million bushels to 1.999 billion, while new crop stocks are anticipated to fall by 65 million bushels to 1.725 billion. Meanwhile, Brazil’s second corn crop harvest has reached 79% completion in the center-south region, trailing last year’s pace of 88%.
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