Corn futures closed unchanged to slightly higher, with the CmdtyView national average cash corn price remaining steady at $4.09 1/2. The USDA reported a private export sale of 286,097 metric tons of corn to Mexico, which includes 29,808 metric tons for 2026/27 and 256,289 metric tons for 2027/28.
Ahead of the USDA’s August Crop Production report scheduled for next Wednesday, a Reuters survey indicated an expected corn yield of 182.4 bushels per acre, with total production estimated at 15.934 billion bushels. This comes as managed money added 13,547 contracts to their net long in corn futures, bringing the total to 181,946 contracts.
Export sales data revealed that old crop corn commitments reached 87.09 million metric tons, 23% above the same period last year, while the new crop accumulated sales totaled 9.65 million metric tons, lagging by 18.1% compared to the previous year.
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