Corn futures are trading 6 to 7 cents lower at midday, reverting from previous gains, with the CmdtyView national average Cash Corn price down to $4.21 ½. The USDA reported Export Sales of 410,748 metric tons for the week of August 6, exceeding trade expectations of 400,000 metric tons. New crop sales reached 924,532 metric tons, which is a 3-week low and down 54.9% from the same week last year.
The Crop Production report revealed a yield of 180.7 bushels per acre and planted acreage raised to 96.7 million acres. Total corn production is estimated at 16.013 billion bushels, which is 13 million bushels above the July estimate. Ending stocks for 2025/26 were revised down by 75 million bushels, now projected at 1.653 billion bushels due to increased export expectations.
In Brazil, production is estimated at 140 million metric tons, while Argentina’s output was raised to 70.5 million metric tons, according to the Rosario Grains Exchange. As of midday, nearby Cash Corn prices are at $4.21 ½, with December futures at $4.74, reflecting a decline of 6 ¾ cents.
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