Corn Contracts Under Pressure as Month Winds Down

TrustlessMaximalist · 2026-02-17T15:14:02+00:00

Corn futures are declining due to a stronger dollar and lower crude oil prices, with the national cash price at $3.90½. However, export commitments are up 33% from last year, indicating strong demand despite the price drop.

TrustlessMaximalist

2026-02-17 15:14:02

Abstract generation in progress

Corn futures are retreating as the month draws to a close, with front-month contracts sliding 5 to 5½ cents during midday trading. According to CmdtyView data, the national average cash corn price weakened 5 cents to $3.90½. The broader commodity complex is influencing the move—the dollar index climbed $0.703 while crude oil declined 94 cents per barrel, both weighing on demand for agricultural products.

Export Sales Momentum Ahead of Schedule

Despite the price decline, corn export commitments are telling a different story. Export Sales data shows corn commitments at 57.694 million metric tons (MMT), representing a 33% increase compared to the same period last year. This pace is currently tracking at 71% of the USDA’s full-year export projection, outpacing the typical 67% average sales pace seen historically. The strong export demand provides some fundamental support even as prices face near-term selling pressure.

Futures Pricing Across Multiple Contract Months

Looking at the contract curve, the weakness is fairly consistent across the board. March 2026 corn futures closed at $4.25¾, down 5 cents. Nearby cash corn remains at $3.90½, down 5 cents. May 2026 contracts retreated to $4.33¾, off 5¼ cents, while July 2026 corn settled at $4.40½, also down 5¼ cents. The uniform decline across the curve suggests broad-based weakness rather than concentrated pressure in any single contract month.

The mixed signals—weakening prices alongside strong export pace—underscore the complexity of corn market dynamics heading into the final weeks of the winter season.

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