Corn futures are experiencing modest gains, with prices up 1 to 2 cents at midday. As of today, September futures are set to expire, with 35 deliveries issued. The CmdtyView national average cash corn price has risen by 2 cents to $4.86 ¾.
The Export Inspections report on Monday morning indicated that corn shipments totaled 1.525 million metric tons (MMT), equivalent to 60.06 million bushels (mbu) for the week ending September 10. This represents an 8.91% decrease from the previous week and is 0.54% lower than the same week last year. Mexico led as the largest destination, receiving 478,113 MT, followed by South Korea at 275,525 MT and Japan at 207,502 MT. Cumulatively, marketing year shipments have reached 2.174 MMT (85.57 mbu) since the beginning of the new marketing year.
Additionally, the CFTC’s weekly Commitment of Traders update revealed that managed money reduced their corn futures net long positions by 5,891 contracts, which remained substantial at 425,171 contracts as of September 3. In Brazil, 22% of the first corn crop for 2026/27 has been planted, outpacing last year’s 17%, while Ukrainian corn production is estimated at 32.3 MMT, an increase of 2.5 MMT from prior numbers.
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