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“Although the USDA lowered their corn export forecast in Tuesday’s WASDE, the current pace is still well below what is needed to reach the 3.275 bil. forecast. Higher production in Brazil continues to be absorbed by higher domestic usage. Taiwan reportedly bought 65k mt of Brazilian corn for Jan/Feb shipment at $2.20 over May ’27 futures. A German Co-op lowered their corn production forecast to 4.1 mmt down 17% YOY,” Mark Soderberg of ADM Investor Services said. “The USDA average farm price for 2026-27 MY at $4.60 bu. historically is a good fit for a stocks/use ration at 10.8%.”
