Corn Futures Near 11-Week Low

Corn futures held below $4.5 per bushel, staying close to their lowest level in nearly eleven weeks as the rapidly advancing US harvest pressured prices. According to the USDA’s weekly report, 60% of the corn crop had been harvested as of October 25, six percentage points behind the five-year average. However, drier weather is expected to help fieldwork pick up pace, potentially increasing available supplies and intensifying competition in global export markets. The USDA’s forecast for the 2026/27 US corn marketing year points to record production of 16.03 billion bushels and ending stocks of 1.849 billion bushels. Meanwhile, USDA export inspections fell nearly 49% week over week to 672,475 metric tons for the week ended October 15, the lowest since October 2024, while marketing-year shipments were 2.3% below the same period last year. However, US corn export sales for the 2026/27 marketing year rose 36% week over week to 60.1 million bushels, exceeding analysts’ expectations.