Corn futures declined on Thursday, with September contracts closing down 3.75 cents at $5.10 ¼. The nearby cash price also dropped 3 cents to $4.82. Deferred contracts fell as much as 8.25 cents.
For the week ending August 20, export sales of old crop corn were reported at 31,220 metric tons (MT), a marketing year low, with significant purchases including 100,560 MT by the Netherlands and 84,200 MT by Japan. New crop bookings reached a marketing year high of 1.066 million MT, driven mainly by 438,000 MT to unknown destinations and 208,800 MT to Mexico, despite total accumulated sales for 2026/27 being down 33.6% from the previous year at 12.458 million MT.
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