Corn rounded out Thursday trade with contracts down 4 to 6 cents across most contracts. The CmdtyView national average Cash Corn price was down 6 3/4 at $4.10 3/4.
USDA’s weekly Export Sales report this morning fell short of the trade estimated range of 500,000 to 1 MMT for old crop corn export business in the week of July 9. It showed just 314,962 MT. That was a MY low but still more than triple the same week last year. Sales for 2026/27 were on the lower side of the 0.3-1.1 MMT expectations at 311,222 MT. That was a 6-week low and took the accumulated new crop commitments to 6.859 MMT, 14.5% above the same time last year.
The next 7 days are predicted to be relatively dry for much of the Western Corn Belt according to NOAA’s 7-day QPF, with just trace amounts in much of MN, IA, NE, MO, and the Dakotas. The Eastern Corn Belt is seen a little wetter, with 0.5-1.5 inches expected in parts of IL, IN, and OH.
The IGC cut its projection for 2026/27 world corn production by 4 million metric tonnes (MMT) to 1.306 billion tonnes. The French crop forecast was reduced 3 MMT due to excessive heat harming yield potential.
Sep 26 Corn closed at $4.41 1/2, down 6 cents,
Nearby Cash was $4.10 3/4, down 6 3/4 cents,
Dec 26 Corn closed at $4.64, down 5 1/2 cents,
Mar 27 Corn closed at $4.79 1/2, down 4 3/4 cents,
New Crop Cash was $4.13 3/8, down 6 1/2 cents,
