Corn futures are experiencing declines, with contracts down 2 to 5 cents at midday, following USDA data adjustments. As of July 25, the front month CmdtyView national average Cash Corn price is at $3.83, down 2¼ cents. The USDA reported a 75 million bushel reduction in feed and residual but a 100 million bushel increase in exports, lowering the 2024/25 carryout to 1.35 billion bushels.
In the new crop forecast, production was adjusted down by 115 million bushels to 15.705 billion bushels, with a yield estimate remaining at 181 bushels per acre. Additionally, the USDA raised Brazil’s corn production estimate to 132 million metric tons, while world stocks for 2025/26 were tightened by 3.16 million metric tons to 272.08 million metric tons. Rainfall is expected in the Central Corn Belt next week, with nearly an inch in the northern region.
