Corn prices showed early gains on Thursday, with futures trading up 4 to 5 cents after a previous session that saw declines of 3 to 5 ¾ cents. Key data revealed open interest increased by 15,233 contracts primarily in July, while December open interest dropped by 13,755 contracts. The national average cash corn price was reported at $4.81, down 5 ¾ cents.
On Wednesday, the USDA announced a private export sale of 182,880 metric tons of corn to Mexico for the 2026/27 shipping period. A Bloomberg survey anticipates that the USDA will reduce yield estimates by an average of 2.6 bushels per acre to 178.1 bushels per acre, predicting a production drop of 236 million bushels to a total of 15.777 billion bushels.
Additionally, the Rosario Grains Exchange estimates Argentina’s 2026/27 corn crop will range between 67.5 and 70.5 million metric tons, up from a prior estimate of 66 million metric tons.
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