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Corn futures slip after Wednesday rally
Cash corn fell 9 cents to $4.18 1/4, while export sales showed old crop volumes at a five-week high.
Corn futures reversed lower after a Wednesday rally, with contracts settling down 5 to 9 cents on Thursday, according to Yahoo Finance citing Barchart data.
At the close, the CmdtyView national average Cash Corn price dropped 9 cents to $4.18 1/4, as export sales were released.
Old crop sales totaled 410,748 MT for the week of August 6, a five-week high and above the same week last year’s net cancellations. Spain led with 257,600 MT, including 74,000 MT sold to Mexico, while Mexico was the top buyer for new crop with 416,400 MT, and unknown destinations bought 253,700 MT.
For new crop, sales were 924,532 MT for that week, down 54.9% from the prior year and the lowest in three weeks. Separately, Yahoo Finance reported that Brazil’s 2025/26 corn production estimate was raised by 1.23 MMT to 142.96 MMT, with second crop output up 1.6 MMT to 111.03 MMT, based on the latest CONAB projection.
Latest closeCorn $483.75 ▲8.0%