To start the week corn gapped lower on the opening and accelerated the selling pressure throughout the rest of the night and into the day session. Trump’s comments that the summit with China might need to be delayed resulted in a massive sell off in the grains overnight, hitting soybeans the hardest which spilled over to cause corn to retreat as well. Reports out of the Paris meeting were friendly corn as China said they would be willing to purchase another row crop besides soybeans from the US. But once the day session started and soybeans accelerated their selloff, corn joined in and went along. As of March 13, Brazil was reporting first crop corn harvest at 49% complete vs 41% last week and vs 49% average. Second crop corn planting was estimated at 85% complete vs 68% last week and 83% average. Technically corn faded to test the bottom end of its past 5-day trading range.
Corn opened Tuesday’s session lower but managed to trade in a back-and-forth fashion throughout the night. Early selling pressure was tied to spillover selling from Monday. Losses were kept in check by strong demand and from the expectation that corn needs to hold price to hang onto acreage. Corn continued to trade sloppy into the day session with selling spilling over from the lower wheat complex. Losses were kept in check by support from the higher soybeans complex. Reports that the White House is going to be offering a Celebration of Ag on March 27 added support as most are expecting EPA to also announce favorable obligation estimates for biofuel production. Losses were also kept in check by the funds who were defending their recent buying spree in corn.
In Wednesday’s session corn opened higher but slipped to trade mixed to lower for most of the overnight session. Traders were looking for direction throughout the night and found support once the day session got under way. Light support spilled over from the sharp rally in wheat. Acreage concerns due to high priced fertilizer added direction. Reports that China’s corn imports are up 208% year over year added support.
Last week’s ethanol production was disappointing, coming in at the bottom of expectations. Last week’s pace was at 1.09 million barrels, down 33,000 barrels from the previous week. Stocks were larger than expected coming in at 26.41 million, up 827,000 barrels and a 48-week high.
Corn started Thursday’s session steady and slowly expanded gains throughout the night. Support spilled over from a stronger crude oil market as well as from 2026 acreage concerns due to the high cost for fuel and fertilizer. Fund buying continues to give corn support as well as the funds continue to defend their long position. Expectations for a friendly biofuels program added support.
Private analysts are starting to release their 2026 acreage estimates. S&P global is estimating corn acres at 95.2 million while Allendale is estimating acres at 93.68 million vs 98.8 million last year and vs 94.0 million from the Ag Outlook Forum.
Hedgers should target $4 .95 Dec to make catch up sales and use $5.15 to advance 2026 sales.
May corn support is $4.35.
For the week, May corn was at $4.655 down 1.75 cents. Dec corn was at $4.9075 down 0.75 cent.
Corn Weekly Comments March 20
Corn Weekly Comments March 20
To start the week corn gapped lower on the opening and accelerated the selling pressure throughout the rest of the night and into the day session. Trump’s comments that the summit with China might need to be delayed resulted in a massive sell off in the grains overnight, hitting soybeans the hardest which spilled over to cause corn to retreat as well. Reports out of the Paris meeting were friendly corn as China said they would be willing to purchase another row crop besides soybeans from the US. But once the day session started and soybeans accelerated their selloff, corn joined in and went along. As of March 13, Brazil was reporting first crop corn harvest at 49% complete vs 41% last week and vs 49% average. Second crop corn planting was estimated at 85% complete vs 68% last week and 83% average. Technically corn faded to test the bottom end of its past 5-day trading range.
Corn opened Tuesday’s session lower but managed to trade in a back-and-forth fashion throughout the night. Early selling pressure was tied to spillover selling from Monday. Losses were kept in check by strong demand and from the expectation that corn needs to hold price to hang onto acreage. Corn continued to trade sloppy into the day session with selling spilling over from the lower wheat complex. Losses were kept in check by support from the higher soybeans complex. Reports that the White House is going to be offering a Celebration of Ag on March 27 added support as most are expecting EPA to also announce favorable obligation estimates for biofuel production. Losses were also kept in check by the funds who were defending their recent buying spree in corn.
In Wednesday’s session corn opened higher but slipped to trade mixed to lower for most of the overnight session. Traders were looking for direction throughout the night and found support once the day session got under way. Light support spilled over from the sharp rally in wheat. Acreage concerns due to high priced fertilizer added direction. Reports that China’s corn imports are up 208% year over year added support.
Last week’s ethanol production was disappointing, coming in at the bottom of expectations. Last week’s pace was at 1.09 million barrels, down 33,000 barrels from the previous week. Stocks were larger than expected coming in at 26.41 million, up 827,000 barrels and a 48-week high.
Corn started Thursday’s session steady and slowly expanded gains throughout the night. Support spilled over from a stronger crude oil market as well as from 2026 acreage concerns due to the high cost for fuel and fertilizer. Fund buying continues to give corn support as well as the funds continue to defend their long position. Expectations for a friendly biofuels program added support.
Private analysts are starting to release their 2026 acreage estimates. S&P global is estimating corn acres at 95.2 million while Allendale is estimating acres at 93.68 million vs 98.8 million last year and vs 94.0 million from the Ag Outlook Forum.
Hedgers should target $4 .95 Dec to make catch up sales and use $5.15 to advance 2026 sales.
May corn support is $4.35.
For the week, May corn was at $4.655 down 1.75 cents. Dec corn was at $4.9075 down 0.75 cent.