Corn Futures Drop 5.75 Cents Ahead of USDA Report

December corn futures lost 5.75 cents to settle at $5.2775 per bushel. The decline reflected technical selling and profit-taking ahead of the USDA release. September corn also dropped 3.25 cents to $5.0775 per bushel.

Traders expect the agency to lower its national corn yield estimate by 2.5 bushels per acre. The new average forecast stands at 178.2 bushels per acre. This adjustment places production expectations at the center of the next price test.

Broad Weakness Across Grain Complex

Soybean and wheat contracts also posted losses. November soybeans fell 6.75 cents to $13.0950 per bushel. January soybeans settled at $13.2525 per bushel.

Winter wheat suffered steeper declines. December Chicago soft red winter wheat dropped 18.25 cents to $7.2875. December Kansas City hard red winter wheat fell 12.75 cents to $8.0625.

These moves occurred despite stronger crude oil prices. Technical positioning outweighed broader commodity signals. Data cited by Agrarmärkte (Google News) confirms the broad selling pressure across the sector.

Export Demand Provides Counterweight

Private exporters reported 7.2 million bushels of U.S. corn sold to Mexico. This volume is designated for the 2026/27 marketing year. The transaction offers a counterweight to bearish futures performance.

Soybean exports also remained active. USDA received reports of 12.5 million bushels sold to China. An additional 3.7 million bushels were reported to undisclosed destinations. These sales indicate that overseas buyers remain engaged.

Crop Conditions and Harvest Progress

USDA rated 56% of U.S. corn in good-to-excellent condition. 27% of the crop is rated fair, and 17% is poor or very poor. Pennsylvania leads major production states with a 91% rating.

Corn development remains slightly ahead of normal. 96% of the crop has reached the dough stage. Initial harvest progress stands at 5%. Physical supplies will increasingly enter the market as combines move into fields.