Corn futures declined on July 26, with July contracts down 9 cents to close at $4.31 1/2, while the December contract hit its lowest price since February. The average cash corn price dropped 7 1/2 cents to $3.97. The USDA reported a private export sale of 136,000 metric tons of corn to South Korea for shipment in 2026/27, with traders anticipating old crop export sales between 0.9 and 1.5 million metric tons.
In related data, ethanol production increased by 19,000 barrels per day to 1.108 million bpd during the week of May 29. Ethanol stocks fell by 362,000 barrels to 24.606 million, while exports rose by 33,000 bpd to 135,000 bpd. Refiner inputs dropped by 38,000 bpd to 899,000 bpd.
The National Oceanic and Atmospheric Administration (NOAA) forecasts 1-2 inches of rain in the Central and Western Corn Belt over the coming week, while the Eastern Corn Belt, particularly in central Illinois to Ohio, is expected to see minimal precipitation.
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
