Corn futures increased by 1 to 2.25 cents on Thursday, concluding July trading with September corn falling below $4. The CmdtyView national average cash corn price rose by 2 cents to $3.76 ¾.
On July 24, the USDA reported the sale of 340,924 MT of old crop corn, within estimates but lower than the previous week. Notably, Japan purchased 175,400 MT, while Mexico bought 93,300 MT. New crop bookings surged to 1.892 MMT, exceeding trade estimates, with significant contributions from South Korea and unknown buyers.
In related news, President Trump announced a trade deal with South Korea, setting US tariffs on South Korean goods at 15%. The US and Mexico also agreed to extend a tariff pause for another 90 days.
