Corn Fades Back Lower on Thursday
Corn Fades Back Lower on Thursday.
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.
Stop Missing Market Moves: Get the FREE Barchart Brief – your midday dose of stock movers, trending sectors, and actionable trade ideas, delivered right to your inbox. Sign Up Now!
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.
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. This article was originally published on Barchart.com
Sinergia Empresarial continuará el seguimiento de esta información sobre corn Fades Back Lower on Thursday y ampliará la cobertura conforme se confirmen nuevos elementos relevantes para el ecosistema empresarial.
