DTN Feed Corn Analysis and Recommendations

08/31/2026

LATEST RECOMMENDATION: The latest recommendations was made on July 10, 2026 – see Detailed Positions below.

DAILY NOTE:

December corn futures closed up 1 1/4 cents on Monday to $5.37 3/4. March futures were up 1 cent to $5.52 1/4. Corn futures closed the month of August with an impressively resilient session, refusing to break beyond a nickel lower despite KC wheat futures being down over 25 cents at one point, and eventually rallying higher by the close. The hot and dry outlook for the first half of September was a leading supportive storyline to begin the new week, along with outside energy strength after the first U.S. strikes on Iran in a few weeks over the weekend. The trend in corn futures is considered higher for now, keeping in mind the possibility of a seasonally inspired harvest time selloff.

CURRENT ASSESSMENT:

The trend in corn futures is higher for now with nearby prices staging an impressive counter-seasonal rally to three-year highs in August. In the August WASDE, USDA forecast the second largest U.S. corn crop on record in 2026 and for the second year in a row notably increased acreage estimates. However, historically strong demand has begun to outpace supply leading to notable cuts to corn ending stocks for both the 2025-26 and 2026-27 seasons, with the ending stocks-to-use ratio for the upcoming year dropping to 10.1% — leaning bullish historically. In the annual DTN Digital Yield Tour, forecasts call for a 178.5 bushel per acre national yield, 2.2 bpa lower than USDA’s August forecast. The world corn situation continues to lean bullish as well with a poor European crop expected and uncertainty surrounding Ukraine’s ability as a supplier amid increased Black Sea port attacks through the late summer. Overall, the corn market has an increasing amount of bullish arguments at a time when seasonal lows tend to hit in August or September. For now, the corn market is a moderately bullish, Type 2 market.

MARKETING RECOMMENDATIONS

Summary:

2025-26: Covered on feed corn needs through September 2026 at an average cash price of roughly $4.00 per bushel for the 2025-26 marketing year.

Detailed Positions:

2026-27: Covered cash feed corn needs for September on July 10, 2026, with September futures trading near $4.31 and the DTN National Corn Index near $4.02.

2025-26: Covered cash feed corn needs for August on July 10, 2026, with September futures trading near $4.31 and the DTN National Corn Index near $4.02.

2025-26: Covered cash feed corn needs for June and July on May 27, 2026 with July 2026 futures trading near $4.57 and the DTN National Corn Index likely near $4.19.

2025-26: Covered cash feed corn needs for April and May on February 2, 2026 with May corn futures trading near $4.33.

2025-26: Covered cash feed corn needs for January, February, and March on December 1, 2025 with March corn futures trading near $4.47.

2025-26: Covered cash feed corn needs for November and December on October 20, 2025 with December corn futures near $4.22 and the DTN National Cash Index near $3.82.

2025-26: Covered cash feed corn needs for October on September 29, 2025. DTN’s National Corn Index was near $3.78.

2025-26: Covered cash feed corn needs for September on August 27, 2025. DTN’s National Corn Index was near $3.66.

2024-25: Covered cash feed corn needs for August on July 21, 2025. DTN’s National Corn Index was near $3.91.

2024-25: Covered cash feed corn needs for May, June, and July on March 6, 2025. DTN’s National Corn Index was near $4.24. May corn futures were trading near $4.62 and July futures were near $4.68.

*DTN recommendations are general in nature and are not intended to be specific for any particular person or farming business. The buying and selling of futures or options involves substantial risk and is not suitable for everyone. DTN accepts no responsibility for actual trades made.