Corn futures have posted gains of 6 to 8 cents today, buoyed by USDA data that proved friendlier than market expectations. Twelve deliveries were recorded against July overnight, and the CmdtyView national average cash corn price rose to $4.065.
The USDA’s weekly supply and demand outlook (WASDE) released this morning lowered USDA corn stocks for the 2025/26 season by 125 million bushels to 2.02 billion bushels. The decline was driven primarily by a 150‑million‑bushel increase in feed and residual grain and a 25‑million‑bushel reduction in ethanol demand. New crop carryout fell 170 million bushels to 1.79 billion bushels, reflecting a lower carryover and a 50‑million‑bushel uptick in exports.
Global corn stocks have contracted by 5.96 million metric tonnes to 275.26 million metric tonnes, largely due to the U.S. cut and a 1 million‑tonne decrease in China from an older crop estimate. European production dropped 3.72 million metric tonnes to 53.78 million metric tonnes, with the I’m בעקבות adjustments from major producers. Argentina’s 2025/26 output was revised upward by 2 million metric tonnes to 63 million metric tonnes.
Mid‑year corn contracts show:
Jul 26 corn is at $4.3425, up 6.75 cents.
Nearby cash is at $4.0775, up 6 cents.
Sep 26 corn is at $4.3745, up 6.25 cents.
Dec 26 corn is at $4.5925, up 7.5 cents.
New crop cash is at $4.105, up 6.5 cents.
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