Corn prices saw a decline of 1 to 2 cents early Thursday, with futures dropping 5 ¾ cents to close at $4.36 ¾ on September contracts. Open interest in September contracts decreased by 12,845, while the rest of the board saw an increase of 15,476 contracts, indicating new selling interest. The national average cash corn price fell by 5 ½ cents to $4.07.
USDA export sales data is anticipated soon, with expectations ranging from 200,000 to 600,000 metric tons of old crop corn sales for the week ending July 30. For the 2026/27 period, sales are projected to be between 0.7 and 1.2 million metric tons. Additionally, weekly EIA data reported ethanol production at 1.107 million barrels per day, down 26,000 bpd from the previous week.
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