Corn Holds Losses into Thursday’s Close
Corn futures closed out the Thursday session with contracts fractionally to 2 cents lower. The front month CmdtyView national average Cash Corn price was down 1 1/4 cents at $3.86 1/4.
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.
Brazil’s corn crop estimate was raised by 1.3 MMT according to Datagro to 134 MMT, as the second crop was pegged at 108.5 MMT. The Buenos Aires Grains Exchange estimates the Argentina corn crop at 55% harvested.
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 closed at $4.09 1/2, down 3/4 cent,
Nearby Cash was $3.86 1/4, down 1 1/4 cents,
Sep 25 Corn closed at $4.04, down 1 cent,
Dec 25 Corn closed at $4.21, down 1 1/2 cents,
New Crop Cash was $3.78, down 1 1/4 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. For more information please view the Barchart Disclosure Policy here.