Corn futures closed on July 25, 2023, with July contracts down 4 cents at $4.33 3/4, and the CmdtyView national average cash corn price decreased by 2 1/4 cents to $4.08 3/4. The Crop Progress report indicated that 16% of the US corn crop was silking, surpassing the 5-year average by 4 percentage points. The overall condition of US corn remained steady at 68% rated good to excellent.
In Brazil, the 2025/26 corn crop forecast was raised by CONAB to 141.73 MMT, up 1.27 MMT from the previous month, with the second crop increased by 1.56 MMT to 109.43 MMT. Brazilian corn exports for July were estimated by ANEC at 3.44 MMT, a rise of 0.95 MMT compared to earlier estimates and significantly higher than the 2.43 MMT reported last July.
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