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Corn slips lower after export sales come in below expectations
USDA reported old crop corn export sales of 314,962 metric tons for the week of July 9, below the market’s 500,000 to 1 million metric ton range.
Corn futures ended Thursday lower, with most contracts down 4 to 6 cents, while the CmdtyView national average cash corn price fell 6 3/4 cents to $4.10 3/4.
Yahoo Finance cited USDA’s weekly Export Sales report, which showed old crop corn export business of 314,962 metric tons in the week of July 9, missing the estimated 500,000 to 1 million metric tons.
The report also put 2026/27 sales at 311,222 metric tons, a 6-week low and within the lower end of the 0.3 to 1.1 million metric ton expectation range, leaving accumulated new crop commitments at 6.859 million metric tons, 14.5% above the same point last year.
Weather and production outlooks also weighed, with NOAA expecting mostly dry conditions across much of the Western Corn Belt and 0.5 to 1.5 inches in parts of the Eastern Corn Belt, while the IGC cut its 2026/27 world corn production projection by 4 million metric tonnes to 1.306 billion tonnes and a French forecast was reduced by 3 million metric tonnes due to excessive heat.
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