Key Moments
- Corn futures posted narrow moves on Monday, ending from 3/4 cent lower to a penny higher, with early Tuesday trade fractionally weaker.
- US corn export inspections reached 1.74 MMT for the week of 8/6, lifting marketing year exports to 79.02 MMT, 25.0% above the same period a year earlier.
- USDA reported a 105,000 MT private corn sale to unknown destinations for 2026/27, while US corn crop condition ratings held steady at 61% good to excellent.
Muted Price Action and Positioning in Corn Futures
Corn futures were trading slightly lower on Tuesday morning, continuing the subdued tone from the previous session. On Monday, contracts settled between 3/4 cent lower and a penny higher across the complex, reflecting limited directional conviction ahead of upcoming government data.
Open interest declined by 15,180 contracts on Monday, with much of the drop attributed to rolling activity out of the September contract. The CmdtyView national average cash corn price eased by 1/2 cent to $4.08.
Export Sales and Weekly Inspection Data
USDA reported a private export sale of 105,000 MT of corn to unknown destinations on Monday morning, with all of the volume designated for the 2026/27 marketing year.
In the latest Export Inspections report released Tuesday morning, corn export inspections totaled 1.74 MMT (68.5 mbu) for the week of 8/6. That figure was 14.29% above the same week a year earlier but 7.83% below the prior week.
Mexico was the top destination for the week, receiving 422,988 MT, followed by 328,351 MT shipped to Japan and 320,284 MT to Spain. Cumulative marketing year exports reached 79.02 MMT (3.11 bbu), running 25.0% ahead of the same point last year with less than one month remaining in the marketing year.
US Crop Progress and Condition Overview
Monday’s Crop Progress report showed rapid advancement of the US corn crop. As of August 9, 94% of the crop had reached the silking stage. The dough stage was reported at 61%, which is 6 percentage points ahead of the average pace, and 16% of the crop was dented.
Condition ratings held steady, with 61% of the crop rated in good to excellent shape. The Brugler500 index was unchanged on the week at 356.
Pre-Report Expectations for USDA Crop Production and Stocks
Market participants are positioning ahead of the August Crop Production report from NASS next Wednesday. According to a Reuters survey of analysts, the average yield estimate stands at 182.4 bushels per acre, with forecasts ranging from 180.5 to 184.8 bpa.
Analysts expect production of 15.934 bbu, with harvested acreage projected to be trimmed by 76,000 acres. Old-crop ending stocks are seen at 1.999 bbu, a 21 mbu reduction from last month. New-crop ending stocks are expected to come in at 1.725 bbu, down 65 mbu from the prior projection.
Brazil’s Second Crop Progress
Brazil’s second corn crop in the center south region was reported at 79% harvested, according to AgRural. That pace trails the 88% level recorded at the same time last year.
Corn Market Snapshot
| Contract / Cash | Closing Price | Change on Day | Current Trade Indication |
|---|---|---|---|
| Sep 26 Corn | $4.38 1/4 | down 3/4 cent | currently down 3/4 cent |
| Nearby Cash | $4.08 1/1 | down 1/2 cent | – |
| Dec 26 Corn | $4.61 3/4 | down 1/4 cent | currently down 3/4 cent |
| Mar 27 Corn | $4.77 1/4 | down 1/2 cent | currently down 1/2 cent |
| New Crop Cash | $4.12 1/1 | down 1/4 cent | – |
Disclosure
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. For more information please view the Barchart Disclosure Policy here.
TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover 
