Corn Hits 11-week Low

Corn decreased to 447.25 USd/BU, the lowest since August 2026. Over the past 4 weeks, Corn lost 9.98%, and in the last 12 months, it increased 3.08%.

Corn futures fell below $4.5 per bushel, trading close to their lowest level since August 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.

Corn futures fell around $4.5 per bushel, near their lowest level in more than two months as weak export shipments and US harvest pressure outweighed stronger new-crop sales. USDA data showed US corn export sales for the 2026/27 marketing year rose 36% week over week to 60.1 million bushels in the week ended October 15, exceeding analysts' estimates and signaling solid demand for future deliveries. However, export inspections plunged nearly 49% to 672,475 metric tons, marking the lowest weekly total since October 2024 and highlighting a slowdown in actual shipments. The US harvest reached 44% completion as of October 18, up from 33% a week earlier, with dry weather across much of the Midwest expected to help fieldwork advance. The USDA projects record US production of 16.03 billion bushels and ending stocks of 1.849 billion bushels for 2026/27, reinforcing concerns over ample availability. These supply pressures continue to limit the market's recovery despite stronger export bookings.