Corn futures are showing 4 to 5 cent gains in most contracts on Thursday. The CmdtyView national average Cash Corn price is 4 1/2 cents higher at $3.83.
Precip heading into 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.
USDA’s Export Sales report was updated this morning with old crop sales pegged at 743,097 MT, which fell within the expected range of 0.5 to 1.3 MMT for the week ending on 6/18. That was a 6-week low, but still slightly ahead of the same week last year. New crop business was tallied at 735,862 MT, which was also in between trade estimates of 0.3 to 1 MMT. That was more than double the same week last year, as total accumulated sales for 2026/27 are now 5.379 MMT, 49.7% larger yr/yr.
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 is at $4.11, up 4 cents,
Nearby Cash is at $3.83 1/1, up 4 1/2 cents,
Sep 26 Corn is at $4.20 1/4, up 4 1/2 cents,
Dec 26 Corn is at $4.39 3/4, up 5 cents,
New Crop Cash is at $3.95 1/4, up 4 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. For more information please view the Barchart Disclosure Policy here.
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