Corn price action is trading fractionally to 2 cents lower on Wednesday morning. Futures posted Tuesday gains of 1 to 2 ¼ cents on the session. Preliminary open interest showed a rotation of ownership up just 470 contracts. The CmdtyView national average Cash Corn price was up 1 ¾ cents at $3.70 1/4.
USDA tallied corn export shipments at 1.129 MMT (44.47 mbu) during the week ending on October 9. That was 119.74% above the same week last year but down 33.61% from last week. Mexico was the top destination of 299,156 MT, with 202,680 MT headed to Colombia and 140,416 MT to South Korea. Marketing year exports for 2025/26 are now 7.94 MMT (312.59 mbu) since September 1, which is now 64.97% above the same period last year.
Taiwan purchased 65,000 MT of corn from the US in their tender on Wednesday. Two separate South Korean importers purchased a total of 199,000 MT of corn in tenders overnight, with no official origins listed.
CONAB raised their estimate for the 2025/26 Brazilian corn crop by 0.32 MMT to 138.6 MMT in their latest release this morning. ANEC estimates the October Brazilian corn exports at 6.46 MMT, which was a 0.4 MMT increase from their estimate last week.
Dec 25 Corn is at $4.13, up 2 1/4 cents, currently down 3/4 cent
Nearby Cash is at $3.70 1/4, up 1 3/4 cents,
Mar 26 Corn is at $4.29 1/4, up 2 cents, currently down 1 1/4 cents
May 26 Corn is at $4.38, up 1 1/2 cents, currently down 1 1/4 cents
