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Corn futures declined by 6 to 7 cents on Tuesday, with the CmdtyView national average cash corn price falling to $3.72 ¼. The USDA’s quarterly Grain Stocks report revealed a September 1 corn stock total of 1.532 billion bushels, significantly exceeding the trade estimate of 1.336 billion bushels, but still 231 million bushels lower than last year.
The Crop Progress data indicated an 18% harvest completion, slightly below the 19% average pace. Condition ratings remained steady at 66% good/excellent. In related news, the Buenos Aires Grain Exchange projected the 2025/26 Argentina corn crop at 58 million metric tons, while ANEC forecasted Brazilian corn exports for September at 7.27 million metric tons, a decrease of 0.34 million metric tons from the previous estimate.
On the futures market, December 25 corn closed at $4.15 ½, Mar 26 corn at $4.32, and May 26 corn at $4.41 ¾, all down by 6 to 6.5 cents.
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