Corn futures are showing 2 to 4 ¼ cent losses so far on Thursday. There were 88 deliveries issued against July futures overnight. The CmdtyView national average Cash Corn price is 3 3/4 cents lower at $4.00 1/4.
USDA’s Export Sales report from this morning showed a total of 565,810 MT of old crop corn bookings in the week of 7/2, falling shy of trade ideas looking for old crop business to total between 0.6-1.1 MMT. That was the second lowest total for the marketing year and down 55.2% from the same week last year. New crop sales were also shy of the expected 600,000 and 900,000 MT at 401,667 MT. That was down 44.8% from the same week last year. Accumulated sales of 6.55 MMT for 2026/27 are still 20.8% above last year.
The next 7 days via NOAA’s QPF shows 1 to 2 inches on a line mainly south of I-80 covering most of IN, OH and the southern half of IL, as well as much of MO. Parts of NE, the Dakotas, MN, IA, and WI remain relatively dry. The 8-14 day outlooks show a dryer pattern for much of the main growing regions, with temps looking above higher odds for above normal temperature probabilities.
The monthly WASDE report will be released on Friday, with a Bloomberg survey of analysts looking for old crop corn stocks to be cut by 66 mbu to 2.079 bbu. New crop carryout is expected to be down 61 mbu to 1.899 bu.
Ukraine left their 2026/27 corn production number at 30 MMT in the country’s latest forecast this morning.
Jul 26 Corn is at $4.32 1/2, down 2 1/4 cents,
Nearby Cash is at $4.00 1/4, down 3 3/4 cents,
Sep 26 Corn is at $4.31 1/4, down 3 3/4 cents,
Dec 26 Corn is at $4.52, down 4 1/4 cents,
New Crop Cash is at $4.03 3/4, down 4 cents,
