Corn futures prices rose significantly, with September contracts closing at $4.49 1/4, up 8 ½ cents. The CmdtyView national average Cash Corn price increased by 9 3/4 cents to $4.20. According to the latest Crop Progress report, 90% of the U.S. corn crop was silking as of August 2, with 43% reaching the dough stage, five percentage points ahead of the typical rate.
Grain Crushing data revealed that 466.71 million bushels (mbu) of corn were utilized for ethanol production in June, a record high and a 4.43% year-over-year increase. Export inspections for the week ending July 30 reported corn shipments of 1.885 million metric tons (MMT), a 22.92% increase week-over-week and 45.44% higher than the same week last year, with Mexico leading as the largest destination.
Brazil’s second corn crop is 69% harvested in the center-south region, estimated at 110.5 million metric tons (MMT), with total production projected at 142.8 MMT for the 2025/26 cycle. StoneX adjusted its estimate, raising the second crop by 3.2 MMT to 110.7 MMT, resulting in a total crop forecast of 141.5 MMT.
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