Corn futures fell on Thursday, losing 5‑6 cents across most contracts as USDA’s balance sheet reflects heightened global competition. The CmdtyView national average cash corn price slipped 5 cents to $3.81¼.
Morning export sales showed 1.00 million metric tons of old‑crop corn traded for the week of June 4, within the expected range of 0.7‑1.6 MMT. This represented a 13.3 % rise from the prior week and a 26.4 % increase versus the same period last year. New‑crop sales reached 926,645 MT, surpassing the estimated 200,000‑500,000 MT range, bringing total new‑crop volume to 4.124 MMT—a 31.6 % gain year‑over‑year.
USDA’s monthly WASDE report placed old‑crop US ending stocks at 2.145 billion bushels, a 3 million‑bushel increase from the previous month. Ethanol use fell by 25 million bushels, while export volumes rose by 25 million bushels respectively, offsetting the decline. Imports were increased by 3 million bushels, and this adjustment carried forward to the next marketing year, raising ending stocks to 1.96 billion bushels.
USDA revised Brazil’s production up 3 MMT to 138 MMT, while Argentina’s output increased by 2 MMT to 61 MMT. CONAB’s latest data set the 2025/26 corn crop at 140.46 MMT, a 0.29 MMT rise from the prior month. The first‑crop forecast was adjusted upward by 0.88 MMT to 28.46 MMT, whereas the second‑crop estimate was lowered by 0.58 MMT to 107.87 MMT.
World ending stocks for 2025/26 rose 6.41 MMT to 303.36 MMT, driven by higher global supplies. New‑crop carryout increased by 3.68 MMT to 281.22 MMT.
The upcoming week’s forecast calls for 1‑4 inches of precipitation across much of the Central Corn Belt, with the heaviest totals expected from Iowa and Wisconsin through Illinois, Indiana, Minnesota, and Missouri.
July 26 corn prices were $4.13¾, down 5.25 cents.
Nearby cash corn traded at $3.81¼, down 5 cents.
September 26 corn was $4.22, down 5.75 cents.
December 26 corn settled at $4.41½, down 5.25 cents.
New‑crop cash corn traded at $3.95½, down 5.75 cents.
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