Corn futures are trading with 6 to 8 cent gains so far on Friday following friendlier then expected USDA data. There were 12 deliveries issued against July overnight. The CmdtyView national average Cash Corn price is 6 cents higher at $4.06 3/4.
The monthly WASDE report from this morning showed US corn stocks for 2025/26 down 125 mbu from last month to 2.02 bbu. That was mainly due to a 150 mbu increase to feed and residual and a 25 mbu cut to ethanol. New crop carryout saw a larger than expected drop, down 170 mbu to 1.790 bbu, due to the lower carryover and a 50 mbu increase in exports.
World corn stocks were trimmed by 5.96 MMT to 275.26 MMT. That came mostly from the US cut, as well as a 1 MMT drop to China on a smaller old crop number. EU production was down 3.72 MMT to 53.78 MMT. Coceral trimmed their EU and UK corn production number by 4.5 MMT to 52.7 MMT. Argentina 2025/26 output was raised by 2 MMT to 63 MMT.
Jul 26 Corn is at $4.34 1/2, up 6 3/4 cents,
Nearby Cash is at $4.07 3/4, up 6 cents,
Sep 26 Corn is at $4.37 3/4, up 6 1/4 cents,
Dec 26 Corn is at $4.59 1/2, up 7 1/2 cents,
New Crop Cash is at $4.10 1/2, up 6 1/2 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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