Corn futures declined on Thursday, dropping 5 to 9 cents, with the September contract closing at $4.48 and the nearby cash price at $4.18 1/4. The decline follows a rally on Wednesday.
For the week ending August 6, the U.S. exported 410,748 metric tons (MT) of old crop corn, marking a five-week high, with Spain as the largest buyer at 257,600 MT, followed by Mexico at 74,000 MT. In contrast, new crop sales totaled 924,532 MT, down 54.9% year-over-year.
Brazil’s corn production forecast for the 2025/26 crop has been raised by 1.23 million metric tons (MMT) to 142.96 MMT, primarily due to an increase in second crop production, which is now estimated at 111.03 MMT.
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