On Thursday, corn prices fell by 5 to 8 cents amid a broader decline in agricultural commodity prices and disappointing export sales data. The CmdtyView national average cash corn price decreased by 8 cents to $4.09 1/2. The USDA reported export sales for old crop corn at just 314,962 metric tons (MT) for the week ending July 9, well below trade expectations of 500,000 to 1 million MT, but still more than triple the figure from the same week last year.
The International Grains Council reduced its forecast for global corn production in 2026/27 by 4 million MT to 1.306 billion tonnes, with the French crop forecast cut by 3 million MT due to excessive heat negatively impacting yields. Additionally, the next week is expected to be relatively dry for much of the Western Corn Belt, with only trace amounts of precipitation anticipated in states like Minnesota and Iowa.
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
