Corn futures are trading with Thursday losses of 5 to 6 cents across most contracts, as the world competition has grown in USDA’s balance sheet. The CmdtyView national average Cash Corn price is down 5 cents at $3.81 1/4.
Export Sales data from this morning indicated 1.00 MMT of old crop corn business in the week of June 4, which fell between trade ideas of 0.7 and 1.6 MMT. That was a 13.3% increase from last week and 26.4% larger than the same week last year. New crop sales were seen at 926,645 MT, which exceeded the trade estimated range of 200,000 to 500,000 MT. That takes the total for the new crop business to 4.124 MMT, a 31.6% increase from the same point last year.
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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.
The forecast for the next week shows 1 to 4 inch precip totals for much of the Central Corn Belt, with IA/WI to IL through IN/MN in the heart of the totals, with MO seeing heavier rainfall.
Jul 26 Corn is at $4.13 3/4, down 5 1/4 cents,
Nearby Cash is at $3.81 1/4, down 5 cents,
Sep 26 Corn is at $4.22, down 5 3/4 cents,
Dec 26 Corn is at $4.41 1/2, down 5 1/4 cents,
New Crop Cash is at $3.95 1/2, down 5 3/4 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. This article was originally published on Barchart.com