Corn Showing Slight Losses on Thursday
Corn futures are showing fractional to 2 cent losses across most front months on Thursday. The front month CmdtyView national average Cash Corn price is down 1/4 cents at $3.87.
Export Sales data was released this morning, with USDA showing 741,226 MT of old crop corn sold in the week of June 19 in the middle of the trade ideas of between 0.5 and 1.2 MMT. That was the lowest since the first week of 2025, but still 36.7% above the same week last year. Colombia was the top buyer of 191,000 MT, with 178,900 MT sold to Japan. Sales for 2025/26 were near the top end of the 100,000 and 350,000 MT estimates at 305,506 MT, a 6-week high. Mexico was the lead buyer of 138,500 MT, with 124,000 MT to unknown destinations.
USDA will release their June Acreage report on Monday. Traders are looking for an average of 95.4 million acres planted this spring, which would be slightly below the March Intentions report. The range of estimates is a wide 93.8 to 96.8 million bushels.
The International Grains Council trimmed their world production estimate by 1 MMT to 1.276 billion MT, with consumption up 1 MMT. Their carryout estimate for world corn was down 2 MMT to 282 MMT.
Jul 25 Corn is at $4.09 3/4, down 1/2 cent,
Nearby Cash is at $3.87, down 1/4 cent,
Sep 25 Corn is at $4.04 1/4, down 3/4 cent,
Dec 25 Corn is at $4.21 1/4, down 1 1/4 cents,
New Crop Cash is at $3.78 1/4, down 1 cent,
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. For more information please view the Barchart Disclosure Policy here.