Corn futures are gaining traction on Friday, with increases of 6 to 8 cents following favorable USDA data. The CmdtyView national average cash corn price has risen 6 cents to $4.06 ¾. In total, 12 deliveries were made against July contracts overnight.
The USDA’s monthly WASDE report released this morning indicates that U.S. corn stocks for 2025/26 decreased by 125 million bushels from the previous month, now totaling 2.02 billion bushels. This reduction primarily stems from a 150 million bushel rise in feed and residual use, coupled with a 25 million bushel cut in ethanol use. The new crop carryout dropped by 170 million bushels to 1.790 billion due to decreased carryover and a 50 million bushel increase in exports.
Globally, corn stocks have been trimmed by 5.96 million metric tons to 275.26 million metric tons. Key reductions include a drop in U.S. stocks and a decrease of 1 million metric tons for China. Additionally, EU production has decreased by 3.72 million metric tons to 53.78 million metric tons. In contrast, Argentina’s production forecast for 2025/26 has been increased by 2 million metric tons to 63 million metric tons.
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