Grain Market News: Corn Exports Hit Multi-Year Peak as Futures Rally

quietly_staking · 2026-02-03T20:06:21+00:00

Corn futures experienced significant gains due to increased international demand, with the USDA reporting record export bookings, particularly from Japan, South Korea, and Mexico. Futures prices reflected this bullish sentiment, while managed funds reduced short positions cautiously.

quietly_staking

2026-02-03 20:06:21

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Corn futures wrapped up a strong week with substantial gains across most delivery months, capping a period of robust international activity. The latest grain market news reflects surging overseas demand, with export bookings reaching their highest levels in nearly five years. Prices benefited from improved competitiveness following last week’s market pullback, which attracted foreign buyers in significant volume.

Weekly Export Surge Powered by International Demand

The USDA’s latest export report revealed exceptional booking activity, with corn shipments totaling 4.01 million metric tons during the week ending January 15—the largest weekly volume since March 2021. When excluding special sales factors like Chinese purchases and bunched orders from previous government shutdowns, this represented the strongest week since 1991. The surge in grain market activity more than doubled the comparable week from the previous year.

Purchases came from diverse origins, with unknown destinations accounting for 1.242 MMT of the total. Japan emerged as a significant buyer with 836,700 MT, followed by South Korea at 751,500 MT and Mexico at 422,600 MT. Related grain products also performed well, with sorghum sales reaching 526,800 MT during the same period.

Futures Prices Post Broad-Based Gains Across Contract Months

The grain market reflected the bullish export news through gains spanning multiple contract months. March corn futures closed 6½ cents higher at $4.30½, while May contracts rose 5¾ cents to $4.38. July delivery gained 5¼ cents, settling at $4.43¾. The nearby cash market, tracked by CmdtyView, advanced 6¾ cents to $3.93½, signaling strength throughout the grain complex.

Managed Funds Trim Short Positions Amid Bullish Sentiment

Portfolio managers made modest adjustments to their grain market positioning, with managed money reducing net short exposure in corn futures and options by 450 contracts. According to Commitment of Traders data released this afternoon, the total net short position stood at 81,324 contracts as of January 20. This modest repositioning suggests cautious optimism among large traders navigating the grain market’s current dynamics.

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