Corn futures closed higher on Friday, with September contracts up 5 ¼ cents for the week at $4.44 ¾ and December contracts rising by 6 ½ cents to $4.67 ½. The national average cash corn price increased by 3 ¼ cents, reaching $4.132. This price movement was supported by a resurgence in crude oil, which rose $3.50 to surpass $80 per barrel.
According to USDA’s Export Sales report, old crop corn sales totaled 86.279 million metric tons (MMT), surpassing USDA’s export projection by 102% and showing improvement over the past three years. Actual shipments stand at 73.058 MMT, representing 87% of the USDA’s projection. CFTC data revealed that managed money increased their net long positions in corn futures by 30,732 contracts during the week ending July 14, bringing the total to 43,391 contracts.
In international markets, Brazil’s corn crop for 2026/27 is projected at 144.96 MMT, an increase of 4.59 MMT from the previous year. Meanwhile, FranceAgriMer reported that only 41% of corn crops in France are rated as good/excellent, while the Buenos Aires Grain Exchange noted that 62% of Argentina’s corn crop has been harvested, trailing behind last year’s pace of 80%.
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