Corn Futures Show Early-Year Softness in Holiday-Shortened Trading

The first trading session of 2026 opened with pressure across corn contracts, with nearby futures posting declines of 2-3 cents. March corn futures retreated more substantially, down 12½ cents during the abbreviated holiday week. According to CmdtyView’s national benchmark, spot corn prices edged higher by 2½ cents, settling at $3.98¼.

Market Activity and Export Data

A private corn export transaction for South Korea totaling 132,000 MT was confirmed by USDA this morning. With official export sales data set to resume on Monday, market participants anticipate weekly corn bookings in the range of 0.7-1.5 million metric tons for the period ending December 25th. This expectation reflects typical seasonal patterns heading into year-end.

USDA Reports on Production and Policy Support

The latest Grains Crushing report from USDA, released this afternoon, documented corn consumption of 471.87 million bushels directed toward ethanol production during November. This represented a modest increase from the prior year, though registering 0.7% below October levels. First-quarter corn grinding showed minimal variance from the previous year’s pace, declining just 0.2 million bushels compared to 2024/25.

In related policy developments, USDA announced payment details for the Farm Bridge Assistance program on Wednesday, with corn support set at $44.36 per acre.

Contract Settlement Overview

March 2026 corn closed at $4.37½, reflecting a 2¾-cent loss for the session. May contracts settled at $4.45½, down similar amounts, while July futures finished at $4.52, off 2½ cents. Spot transactions remained at $3.98¼, representing the day’s only price strength amid weakness across the contract board.

The early-year weakness in corn futures reflects typical seasonal dynamics following the holiday break, with traders reassessing supply-demand fundamentals as export interest and crush demand remain under observation heading into 2026.