Corn futures closed on September 26 with contracts down 18 to 20 ½ cents through next July, while deferred contracts saw increases of 4 to 11 ½ cents. The CmdtyView national average Cash Corn price rose by 20 ¼ cents to $4.27 ¼ per bushel. The latest Crop Production report from NASS indicated a yield of 180.7 bushels per acre (bpa), with planted acreage increasing by 1.4 million acres to 96.7 million acres and harvested acreage up 1.2 million to 88.6 million acres. Total production is estimated at 16.013 billion bushels (bbu), 13 million bushels above the July WASDE number and nearly 80 million bushels above initial estimates.
According to WASDE data, ending stocks for 2025/26 decreased by 75 million bushels due to increased exports, which are now projected at 1.945 bbu. New crop stocks are estimated at 1.653 bbu. Globally, ending stocks for new crop estimates fell by 0.6 million metric tons to 274.66 million metric tons, while Brazil’s production increased by 2 million metric tons to 140 million metric tons. Argentina’s production remains at 63 million metric tons, though projections by the Rosario Grains Exchange were raised to 70.5 million metric tons.
Ethanol production for the week of August 7 reached 1.117 million barrels per day, a rise of 10,000 bpd from the previous week, with stocks increasing by 274,000 barrels to 24.798 million barrels. Traders anticipate upcoming Export Sales data, expecting net cancellations between 100,000 metric tons and 400,000 metric tons for old crop corn, while new crop sales are projected between 0.8 to 1.4 million metric tons. Flash flooding and strong winds were reported across parts of the I-states and Ohio due to storms on Tuesday, although damage assessments are pending.
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