Corn futures fell lower on Tuesday as USDA added more than 1 billion bushels to the balance sheet. Contracts closed with losses of 12 to 13 ½ cents. The CmdtyView national average Cash Corn price was down 13 1/4 cents at $3.54 1/4.
USDA reported a private export sale this morning of 315,488 MT of corn to Mexico, with 20,830 MT for old crop and 294,658 MT for 2025/26.
This morning’s USDA Crop Production report showed the national corn yield at 188.8 bpa this morning, which was above the trade ideas of 184.3. Production was pegged at 16.742 billion bushels, up 1.037 bbu from last month’s WASDE total. Acreage was a big reason as a surprising 2.1 million planted acres were added this month to 97.3 million acres.
Via the WASDE, old crop corn stocks were pegged at 1.305 bbu, down 35 mbu from last month, as exports were raised by 70 mby, with corn used in ethanol trimmed back. With the production changes, new crop was up 457 mbu to 2.117 bbu. World stocks for the 2025/26 marketing year were 10.46 MMT higher to 282.54 MMT. Old crop production for Brazil was unchanged at 132 MMT.
Crop Progress data showed US corn condition ratings slipping 1 point this week, to 72% gd/ex and 383 on the Brugler500 index. Improvement was noted in IN, IA, an MN, all up 2. Deterioration was seen in IL, down 10 points, MI, 19 points lower, with MO falling 7, OH down 8 and ND slipping 9.
A South Korean importer purchased a total of 65,000 MT of corn in a tender overnight. ANEC estimates the August corn export total for Brazil at 7.97 MMT, a 0.39 MMT increase from their previous number and would be 1.9 MMT above the same month last year.
Sep 25 Corn closed at $3.71 1/2, down 13 1/2 cents,
Nearby Cash was $3.54 1/4, down 13 1/4 cents,
Dec 25 Corn closed at $3.94 1/2, down 13 1/4 cents,
Mar 26 Corn closed at $4.12 1/4, down 13 cents,
New Crop Cash was $3.51 5/8, down 13 3/4 cents,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Barchart.com
