Corn Cats are Bouncing on Monday

Corn futures are showing a dead cat bounce on Monday, with contracts up 1 to 2 ¼ cents across the front months at midday. The CmdtyView national average Cash Corn price is up 2 1/4 cents at $4.41 1/4.

The harvest price for Crop Insurance is discovered during October, with the average December close so far at $4.96.

The government will be closed for today due to the Columbus Day holiday, with the Export Inspections and Crop Progress reports pushed to Tuesday. 

Crop Production data from Friday showed US corn yield at 181.2 bpa, up 2.7 bpa from the September report. That took the production total 234 mbu higher to 16.034 bbu and was well above trade estimates. With the increased production, supplies were 407 mbu larger due to the 173 mbu increase to the 2025/26 carryout found back at the end of September. That took the US ending stocks projection for 2026/27 to 1.849 bbu, 282 mbu above September’s guess and 179 mbu larger than estimates. An increase in all three major use categories by a combined 125 mbu eased some of the increase in supply.

CFTC data showed managed money already cutting back their net long position ahead of the USDA reported, dropping 60,491 contracts in the week ending last Tuesday. That took their net long to 317,359 contracts by October 6, mainly via long liquidation. 

APK-Inform trimmed their 2026 Ukrainian corn projection by 0.5 MMT to 31.8 MMT.

Dec 26 Corn is at $4.82, up 2 1/4 cents,

Nearby Cash is at $4.41 1/4, up 2 1/4 cents,

Mar 27 Corn is at $4.96 1/4, up 2 cents,

May 27 Corn is at $5.03 1/2, up 1 1/2 cents,

On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.