Corn futures closed Thursday with losses of 7 to 10 ½ cents across most contracts, as increased supplies on USDA’s balance sheets added pressure. The CmdtyView national average Cash Corn price was down 6 3/4 cents at $3.80 1/2.
Export Sales data from this morning indicated 1.00 MMT of old crop corn business in the week of June 4. That was a 13.3% increase from last week and 26.4% larger than the same week last year. Japan was the top buyer of 373,100 MT, with 356,200 MT sold to Mexico. New crop sales were seen at 926,645 MT, taking new crop business to 4.124 MMT, a 31.6% increase from the same point last year. Japan was the lead buyer of 241,000 MT, with 237,500 MT sold to Colombia and 204,000 MT to South Korea.
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USDA’s monthly WASDE report showed the old crop US ending stocks number at 2.145 bbu, a 3 mbu increase from last month. Corn used for ethanol was dropped by 25 mbu, with exports offsetting that with a 25 mbu increase. Imports were raised by 3 mbu. That 3 mbu carried through to the next marketing year, which was up just 3 mbu as well to 1.96 bbu.
Brazil production was raised by 3 MMT from the USDA, at 138 MMT, with Argentina up 2 MMT to 61 MMT. CONAB data was released this morning, with the 2025/26 crop pegged at 140.46 MMT, up 0.29 MMT from last month. The first crop was raised by 0.88 MMT to 28.46 MMT, with the second crop down 0.58 MMT to 107.87 MMT.
WASDE data showed 2025/26 world ending stocks were up 6.41 MMT to 303.36 MMT on the increased world supplies. New crop carryout was up 3.68 MMT to 281.22 MMT.
Jul 26 Corn closed at $4.11 3/4, down 7 1/4 cents,
Nearby Cash was $3.80 1/2, down 6 3/4 cents,
Sep 26 Corn closed at $4.20, down 7 3/4 cents,
Dec 26 Corn closed at $4.39 1/2, down 7 1/4 cents,
New Crop Cash was $3.94 3/4, down 7 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.