Corn prices opened the trading week showing modest weakness, with futures contracts steady to a penny lower on early Monday morning activity. This decline followed Friday’s session, which saw contracts fall between 2¾ and 5 cents as traders reacted to newly released yield data. The December contract posted a weekly decline of 6½ cents. Open interest increased by 20,115 contracts on Friday, with the majority of the activity concentrated in March through July contracts.
The NASS monthly Crop Production report released during the period showed U.S. corn yield declining to 178.5 bushels per acre, a reduction of 2.2 bushels per acre that aligned with market expectations. Production figures declined by 213 million bushels from August estimates to 15.8 billion bushels, with harvested acreage trimmed by 87,000 acres to reach 85.506 million acres. The CmdtyView national average cash corn price fell 3¼ cents to $4.84¾. September futures contracts, set to expire early in the week, had 35 deliveries issued against them on Friday.
The World Agricultural Outlook Board’s WASDE report reflected adjustments to stock levels and global production figures. Old crop ending stocks declined by 23 million bushels to 1.922 billion bushels, while the board increased export projections by 25 million bushels and added 2 million bushels to import estimates. New crop carryout was reduced by 86 million bushels to 1.567 billion bushels following production adjustments, and feed and residual usage was lowered by 150 million bushels. Global ending stocks for 2025/26 rose by 2.55 million metric tons to 301.38 million metric tons, with Brazilian old crop production increasing by 1 million metric tons to 141 million metric tons.
Export sales data showed 79,788 metric tons of 2025/26 sales during the week ending September 3, concluding the marketing year. New crop sales for that same week totaled 1.929 million metric tons, with 993,349 metric tons in unshipped sales carried forward from 2025/26. The CFTC’s Commitment of Traders report indicated managed money reduced their net long position by 5,891 contracts, though the net long still stood at 425,171 contracts as of September 3. In Brazil, the 2026/27 first corn crop had been planted to 22% as of Thursday, ahead of the previous year’s 17% pace.
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