Corn Fading Thursday Gains to Start Friday

Corn prices are down fractionally to 2 cents so far on Friday morning. Futures rallied into the Thursday close, as contracts were 4 ¼ to 8 ½ cents higher on the session. Open interest was down 5,044 contracts on Thursday, with July down 41,322 contracts. July options expire today, with first notice day on Monday. The CmdtyView national average Cash Corn price was 8 3/4 cents higher at $3.87. 

Precip heading into the first couple days of July is limited in portions of NE, SD, IA, the southern portions of MN/WI as well as the northern areas of the Eastern Corn Belt according to the NOAA 7-day QPF. Rain totals of 1 to 3 inches are seen in much of the ECB. The 8-14 day outlook from the CPC shows warmer than normal temps across the US, with the ECB looking at drier than normal precipitation.

USDA’s Export Sales report was updated this morning with old crop sales pegged at 743,097 MT in the week ending on 6/18. That was a 6-week low, but still slightly ahead of the same week last year. Mexico was the top buyer of 307,300 MT, with 161,700 MT sold to Japan and 98,400 MT to Colombia. New crop business was tallied at 735,862 MT, more than double the same week last year. Mexico was the buyer of 295,500 MT, with 250,000 MT sold to Japan. Total accumulated sales for 2026/27 are now 5.379 MMT, 49.7% larger yr/yr.

Agroconsult raised their 2025/26 Brazilian corn estimate by 3.6 MMT to 144.1 MMT. The second crop was up 3.7 MMT at 115.8 MMT. 

International Grains Council data was released this morning showing 2026/27 world corn output up 10 MMT, with use up by 9 MMT. World corn stocks were raised by 7 MMT to 298 MMT, as 2025/26 stocks were up 6 MMT.

Jul 26 Corn  closed at $4.14 3/4, up 7 3/4 cents, currently down 2 cents

Nearby Cash  was $3.87, up 8 3/4 cents,

Sep 26 Corn  closed at $4.24 1/4, up 8 1/2 cents, currently down 2 cents

Dec 26 Corn  closed at $4.43, up 8 1/4 cents, currently down 1 cent

New Crop Cash  was $3.99 7/8, up 8 1/2 cents,