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Barchart
Barchart
Austin Schroeder

RARE PHOTOS: Corn starting october with continued weakness - The Real Truth

IN: NE SD IL USDA MI ND

Corn prices are down 2 to 3 ¼ cents so far on Wednesday morning. Futures fell 6 to 7 cents across most contracts on the Tuesday session, as USDA found a couple (hundred million) more bushels than the trade had expected in the quarterly Grain Stocks report. Preliminary open interest was up 11,836 contracts on Tuesday, suggesting new selling interest. The CmdtyView national average Cash Corn price was down 6 cents at $3.72 ¼. 

Tuesday’s Grain Stocks report showed September 1 corn stock, both on and off farm, at 1.532 bbu. That was well above the average trade guess of 1.336 bbu, as well as the September WASDE estimate for ending stock, yet still 231 mbu below last year. Very minimal revisions were made to the June stocks data, with 2024/25 production up 25 mbu.

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