Corn Futures Drop 5.75 Cents Ahead of USDA Report

December corn contracts lost 5.75 cents to settle at $5.2775 per bushel. September corn dropped 3.25 cents to $5.0775. The decline reflects profit-taking and technical selling. Markets await the USDA World Agricultural Supply and Demand Estimates report. Specialists expect a reduction in the national corn yield estimate. The projected average yield is 178.2 bushels per acre. This figure represents a drop of 2.5 bushels from prior estimates.

Soybean and wheat futures also fell during the session. November soybeans dropped 6.75 cents to $13.0950 per bushel. January soybeans settled at $13.2525. December Chicago soft red winter wheat declined 18.25 cents. The contract closed at $7.2875 per bushel. December Kansas City hard red winter wheat lost 12.75 cents. It settled at $8.0625 per bushel. These moves occurred despite stronger crude oil prices. Technical positioning outweighed broader commodity signals.

Export Demand Supports Physical Markets

Private exporters reported 7.2 million bushels of U.S. corn sold to Mexico. These deliveries are scheduled for the 2026/27 marketing year. USDA recorded 12.5 million bushels of soybeans sold to China. An additional 3.7 million bushels of soybeans went to undisclosed destinations. These sales indicate active overseas buyers. They provide a counterweight to bearish futures performance. Growers must decide if current prices justify immediate sales. Physical supplies are moving into commercial channels.

Crop Conditions and Harvest Progress

USDA rated 56% of U.S. corn in good-to-excellent condition. 27% of the crop is rated fair. 17% is in poor or very poor condition. Pennsylvania leads major production states with 91% good-to-excellent. North Dakota follows at 84%. Wisconsin reports 71%. Crop development is slightly ahead of normal. 96% of corn has reached the dough stage. 76% is dented. 25% is mature. Initial harvest progress stands at 5%. Combines are moving into more fields. Physical supplies will enter the market soon.

Soybean Quality Remains Steady

Soybean conditions are steadier than corn. 58% of the soybean crop is rated good-to-excellent. 29% is rated fair. 13% is in poor or very poor condition. Iowa posted a 75% good-to-excellent rating. The data comes from Agrarmärkte (Google News) sources. Farmers and grain handlers monitor these figures closely. Basis levels and storage capacity are critical. Cash-flow requirements depend on crop quality. Crop insurance positions are under review. The market awaits the next fundamental data point.