Corn Prices Drop as Traders React to USDA Yield Cut
Corn futures are down by 2-3 cents following a report from the USDA that showed a slight decrease in U.S. corn yield estimates for September 2026, which traders interpreted negatively. The national average Cash Corn price has fallen 2.5 cents to $4.855 per bushel. A private export sale of 264,000 metric tons was reported by the USDA, all destined for Mexico under the 2026/27 marketing year. The National Agricultural Statistics Service (NASS) monthly Crop Production report revealed a reduction in U.S. corn yield to 178.5 bushels per acre and an overall production decrease of 213 million bushels due to reduced harvested acres. The World Agriculture Supply and Demand Estimates (WASDE) also showed adjustments, including lower feed usage and higher export projections for old crop corn. Global ending stocks increased slightly in the 2025/26 marketing year but dropped significantly for new crops as production estimates were adjusted downward. Export sales data exceeded expectations with a total of nearly two million metric tons sold during the week ending September 3, which was higher than anticipated net cancellations or sales.
Topics: corn export sales futures trading USDA report