Corn Futures Hold Steady as Strong Annual Export Paces Balance Weekly Dip
Corn futures traded flat to fractionally mixed on Tuesday, with December contracts hovering around $4.83 per bushel and nearby cash corn holding at $4.43 1/2. Prices reflected a quiet midday session as market participants balanced steady domestic cash levels against international demand updates.
Weekly export inspection data showed U.S. corn shipments reached 1.302 million metric tons (51.26 million bushels) during the week ending October 8. Although shipments dropped 7.2% from the prior week, they remained 7.57% above the same week last year. Total marketing year exports for 2026/27 reached 8.44 million metric tons, up 5.32% compared to the same period a year ago. Mexico, Japan, and South Korea were the top destinations, while South Korean buyers secured an additional 261,000 metric tons through overnight tenders.
Looking ahead, market participants are monitoring demand expectations from major global buyers. Forecasts project Chinese corn imports at 3.5 million metric tons for the 2026/27 season, representing a slight decline of 0.17 million metric tons from the previous year, while Chinese sorghum imports are expected to expand by 0.55 million metric tons to 8 million metric tons.
Key points
- Corn futures traded flat to fractionally mixed, with December contracts holding at $4.83 per bushel and cash corn steady at $4.43 1/2.
- Weekly export shipments reached 1.302 million metric tons, falling 7.2% week over week but rising 7.57% year over year.
- Marketing year exports for 2026/27 stood at 8.44 million metric tons, up 5.32% compared to the prior season.
- South Korean importers purchased 261,000 metric tons of corn in overnight tenders, adding to weekly demand from Mexico and Japan.
- Chinese corn imports for 2026/27 are projected at 3.5 million metric tons, down 0.17 million metric tons from last year.
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How we writeDisclaimerQuestions and answers
What are current corn futures prices?
December corn futures traded unchanged at $4.83 per bushel, while nearby cash corn held steady at $4.43 1/2. March 27 contracts slipped 1/4 cent to $4.97, and May 27 contracts gained 1/4 cent to $5.04 3/4.
How strong are recent U.S. corn exports?
Weekly corn export shipments totaled 1.302 million metric tons for the week ending October 8. While down 7.2% from the previous week, shipments were up 7.57% year-over-year, bringing total 2026/27 marketing year exports to 8.44 million metric tons.