The U.S. corn harvest picked up last week, and December corn futures kept falling. USDA's Crop Progress report (opens in new tab) shows 60% of the crop was harvested as of Sunday, Oct. 25, up 16 points in a week but still behind the 2021-2025 average of 66%. There is no year-ago comparison for this week because the 2025 reports were canceled during that fall's federal funding lapse.
The next day, CBOT December corn settled at 448.75 cents a bushel, down 6.25 cents, according to USDA AMS's Nebraska daily grain report (opens in new tab) for Oct. 27. That was the contract's lowest close since July 10, Total Farm Marketing said (opens in new tab), and Pro Farmer (opens in new tab) called it a 3.5-month low. Brownfield (opens in new tab) reported the same settle. March 2027 corn closed at 462.75 cents, down 6 cents.
December corn has lost 18.25 cents since Oct. 19, when Tortilla News last reported it at 467.00 cents. Wheat fell as well: December Kansas City hard red winter wheat settled at 650.50 cents on Oct. 27, down 8.5 cents, and December Chicago wheat ended at 610.25 cents, the AMS report shows.
The harvest gap is widest in the northern Corn Belt. Iowa was 47% done against a 67% average, Nebraska 55% against 64% and South Dakota 44% against 62%, while Illinois, at 74%, was slightly ahead of its average and Texas was 95% done. USDA rated 56% of the corn still in the field good to excellent. The next Crop Progress report is due Monday, Nov. 2, and USDA releases its November supply and demand estimates (opens in new tab) on Nov. 10.
Read the release / full story at USDA AMS Market News; USDA NASS Crop Progress (opens in new tab)