Corn Futures Decline Amid Export Sales Report
On Wednesday, corn futures closed lower with contracts falling between 3 to 5.75 cents per bushel near session lows. The national average Cash Corn price dropped by 5.75 cents to $4.81. USDA reported a private export sale of 182,880 metric tons (MT) of corn to Mexico for the 2026/27 crop year. Market participants are also watching expectations that USDA will revise its yield estimate downward by an average of 2.6 bushels per acre on Friday. The latest Crop Progress report indicated a decline in condition ratings, with good-to-excellent conditions at 46%, down one percentage point from the previous week. Regional changes showed declines in several key corn-producing states but improvements in others like Colorado and South Dakota. Argentina’s projected 2026/27 crop is now estimated between 67.5 to 70.5 million metric tons, up slightly from earlier forecasts.
Topics: corn crop conditions futures USDA export sales