Corn is starting off Friday with mixed trade, as July is up 1 ¾ cents and other front months fractionally lower. Futures closed the Thursday session with contracts 2 to 4 ¼ cents lower, as nearby July was down 7 cents. Open interest was down 1,845 contracts on Thursday mainly in the front months. There were 12 deliveries issued against July overnight. The CmdtyView national average Cash Corn price was 3 1/4 cents lower at $4.01 3/4.
USDA’s Export Sales report from Thursday morning showed a total of 565,810 MT of old crop corn bookings in the week of 7/2. That was the second lowest total for the marketing year and down 55.2% from the same week last year. Mexico was the top buyer of 168,900 MT, with 162,900 MT sold to Japan, and 149,800 MT to Colombia. New crop sales were just 401,667 MT in that week, down 44.8% from this week in 2025. A bulk of the sales were to South Korea at 136,000 MT, with 112,000 MT to Japan and 57,000 MT to Colombia. Accumulated sales of 6.55 MMT for 2026/27 are still 20.8% above last year.
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The monthly WASDE report will be released later this morning, with a Bloomberg survey of analysts looking for old crop US corn stocks to be cut by 66 mbu to 2.079 bbu. New crop carryout is expected to be down 61 mbu to 1.899 bu.
Coceral trimmed their EU and UK corn production number by 4.5 MMT to 57.2 MMT.
Jul 26 Corn closed at $4.27 3/4, down 7 cents, currently up 1 3/4 cents
Nearby Cash was $4.01 3/4, down 3 1/4 cents,
Sep 26 Corn closed at $4.31 1/2, down 3 1/2 cents, currently down 1/4 cent
Dec 26 Corn closed at $4.52, down 4 1/4 cents, currently down 1/4 cent
New Crop Cash was $4.03 1/8, down 3 1/2 cents,
On the date of publication,
Austin Schroeder
did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes.
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