Corn prices are facing early losses of 2 to 3 cents in trading on Thursday. On Wednesday, futures reached a three-year high, with contracts closing 10 to 13.5 cents higher. The CmdtyView national average Cash Corn price increased by 13.5 cents to $4.85. Open interest dropped by 5,593 contracts, partly attributed to a significant decline in September contracts.
Export Sales data, set to be released this morning, is anticipated to show net reductions of 200,000 MT to net sales of 400,000 MT for the 2025/26 sales week ending August 20, with new crop bookings expected between 0.6-1.6 MMT.
Additionally, EIA data revealed U.S. oil production at 1.112 million barrels per day, an increase of 23,000 bpd from the previous week, along with a stock build of 85,000 barrels to a total of 25.2 million barrels.
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