On Friday, corn futures exhibited mixed results, with September closing up 4.5 cents and December rising 6.25 cents. The national average cash corn price increased by 1 cent to $3.70. Additionally, the USDA announced private export sales of 119,769 metric tons of corn to Costa Rica and 140,452 metric tons to Spain for the 2025/26 marketing year.
A recent crop tour indicated that most states reported yields above last year, leading ProFarmer to estimate the 2025 national yield at 182.7 bushels per acre, resulting in production projections of 16.204 billion bushels. This figure is a decrease from the USDA’s August Crop Production report, which projected 188.8 bpa and 16.742 billion bushels.
As of August 19, CFTC data showed speculators cut their net short position in corn futures to 144,650 contracts, while commercials increased their net short position to 57,745 contracts. Export commitments for old crop U.S. corn reached 70.505 million metric tons, accounting for 98% of the USDA estimate.
