FX.co ★ Corn Futures Near 11-Week Low

Corn futures remained below $4.50 per bushel, hovering near their lowest levels in almost eleven weeks, as the rapidly progressing US harvest continued to weigh on prices. The USDA’s latest weekly report showed that 60% of the corn crop had been harvested as of October 25, six percentage points behind the five-year average. Even so, forecasts for drier weather are expected to accelerate fieldwork, likely boosting available supplies and heightening competition in global export markets.

For the 2026/27 US corn marketing year, the USDA projects record production of 16.03 billion bushels and ending stocks of 1.849 billion bushels. On the demand side, USDA export inspections dropped nearly 49% week over week to 672,475 metric tons for the week ended October 15, the lowest level since October 2024. Cumulative marketing-year shipments were 2.3% below the pace seen during the same period a year earlier. Nonetheless, US corn export sales for the 2026/27 marketing year climbed 36% week over week to 60.1 million bushels, surpassing analysts’ expectations.