Corn futures experienced losses of 7 to 10.5 cents across most contracts on Thursday, closing with the July contract at $4.11 3/4. The CmdtyView national average cash corn price fell by 6.75 cents to $3.80 1/2, influenced by increased supplies in the USDA’s balance sheets.
In the week of June 4, U.S. corn export sales totaled 1.00 million metric tons (MMT), a 13.3% increase from the previous week and 26.4% larger than the same week last year, with Japan leading as the top buyer at 373,100 MT. The USDA’s latest monthly WASDE report revealed old crop U.S. ending stocks at 2.145 billion bushels, a slight increase from the previous month.
Additionally, Brazil’s corn production was raised by 3 MMT to 138 MMT, while Argentina’s increased by 2 MMT to 61 MMT. The 2025/26 world ending stocks rose by 6.41 MMT to 303.36 MMT due to an increase in world supplies, with new crop carryout up 3.68 MMT to 281.22 MMT.
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