Corn futures declined further on July 26, closing down 5 to 8 1/4 cents, with July contracts settling at $4.24 1/2 and nearby cash prices at $3.90. The declines were exacerbated by crude oil losses of $3.11 per barrel. Additionally, the USDA reported a private export sale of 115,000 MT of corn to Colombia for shipment in 2026/27.
Weekly export sales data revealed that 883,332 MT of old crop corn were sold during the week ending May 28, marking a 13% decrease from the previous week and 6.3% lower than the same week last year. Notable buyers included Japan at 336,300 MT and Mexico at 243,900 MT. In Brazil, corn exports in May were reported at 250,449 MT, significantly higher than 38,928 MT in May 2025.
The Buenos Aires Grains Exchange reported that 40.6% of Argentina’s corn crop has been harvested, maintaining a production estimate of 64 MMT.
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