Corn Market News: Weakness Takes Hold as Prices Retreat Midweek

BlockchainArchaeologist · 2026-02-02T22:10:06+00:00

The corn market is experiencing a decline, with futures slipping and cash prices falling due to bearish sentiment and new supply data. Despite this, export activity from international buyers remains strong, potentially offering some support. Upcoming production forecasts could further influence market stability.

BlockchainArchaeologist

2026-02-02 22:10:06

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The corn market showed notable weakness heading into the session, with futures contracts slipping fractionally to 2 cents lower. The CmdtyView national average cash corn price fell 1 1/2 cents to $3.84 1/2, reflecting broader pressure across the grain complex. This pullback comes as traders digest recent supply data and anticipate shifts in production expectations for the coming weeks.

Pricing Pressure Impacts Corn Futures Trading

The decline was broad-based across multiple contract months. March 26 corn futures closed at $4.21 3/4, down 2 cents for the session, while nearby cash corn retreated to $3.84 1/2, off 1 1/2 cents. May 26 contracts fell 1 1/2 cents to close at $4.29 3/4, with July 26 corn also declining 1 1/2 cents to $4.36 1/4. The consistent weakness across the strip suggests underlying bearish sentiment in the corn market, though the moves remain relatively modest on a percentage basis.

International Demand and Export Activity

Despite the price weakness, export activity continues to provide some support. The USDA reported private export sales totaling 150,000 metric tons of corn destined for Colombia and another 195,000 MT heading to unknown destinations. Additionally, a Taiwan-based importer secured 65,000 MT of US corn through overnight tender activity. These transactions demonstrate that international buyers remain active participants in the market, even as domestic prices face downward pressure.

Production Forecasts and Weekly Data Ahead

Weekly energy data from the EIA will be released Thursday morning following the Monday holiday, with market participants expecting ethanol production to moderate from last week’s surge to record levels. This production pullback could provide some support if confirmed, though it remains to be seen whether such developments will be enough to stabilize the recent weakness in corn prices. The market continues to balance supply fundamentals against demand considerations as we move further into the new year.

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