Corn futures are experiencing slight declines, with the front month CmdtyView national average cash corn price down 1/4 cents at $3.87 on Thursday. Export sales data from the USDA indicates 741,226 metric tons (MT) of old crop corn were sold in the week of June 19, falling short of trade expectations between 500,000 and 1.2 million MT, marking the lowest sales since early 2025 but still 36.7% higher than the previous year. Colombia was the leading buyer at 191,000 MT, followed by Japan at 178,900 MT.
Additionally, the USDA will release its June Acreage report on Monday, with traders projecting an average of 95.4 million acres planted this spring, slightly below the March intentions report. The range of estimates spans from 93.8 to 96.8 million acres. Meanwhile, the International Grains Council has reduced its global corn production estimate by 1 MT to 1.276 billion MT and increased consumption by 1 MT, resulting in a carryout estimate down 2 MT to 282 MT.
