Corn prices dipped 2 cents on the morning of July 26, 2023, following a previous rally that closed futures up between 4 ¼ and 8 ½ cents. The current cash price of corn is recorded at $3.87, an increase of 8 ¾ cents. Open interest decreased by 5,044 contracts on Thursday, with notable declines in July contracts.
The USDA’s Export Sales report revealed old crop sales at 743,097 MT for the week ending June 18, a six-week low. Mexico topped the buyers with 307,300 MT, while new crop sales reached 735,862 MT, more than double from the same week last year. Total accumulated sales for 2026/27 have now hit 5.379 MMT, increasing by 49.7% year-over-year.
Agroconsult raised Brazil’s corn estimate for 2025/26 by 3.6 MMT to 144.1 MMT, while the International Grains Council reported a 10 MMT increase in world corn output for 2026/27, with stocks rising to 298 MMT.
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