Corn Futures Modestly Rise Midday

Corn futures increased by 1 to 2 cents in the front‑month contracts on Friday, with the CmdtyView national average cash corn price rising 1 ¼ cents to $3.81.

Export‑sales data show the old‑crop export commitment at 82.767 MMT, which equals 98 % of USDA’s revised projection and aligns with the typical 98 % sales pace. Shipments of 64.5 MMT represent 76 % of the USDA figure and are marginally below the usual 78 % shipping pace. New‑crop business to date has reached 4.124 MMT, a 31.6 % increase compared with the same period last year.

USDA’s monthly WASDE report placed old‑crop U.S. ending stocks at 2.145 bbu, a 3 mbu rise from the previous month. Ethanol use was reduced by 25 mbu, while export volumes offset this with an equal increase. Imports were lifted by 3 mbu, carrying the adjustment into the next marketing year, where ending stocks rose by the same amount to 1.96 bbu.

Brazil’s production estimate was increased by 3 MMT to 138 MMT, and Argentina’s by 2 MMT to 61 MMT, marking a combined 15 MMT uplift over the past two months.

NOAA’s 7‑day quantitative precipitation forecast expects 2 to 4 inches of rain from Missouri to Ohio, with eastern Iowa and Wisconsin seeing 1 to 2 inches. The western portions of Iowa, Minnesota, and the northern Plains west of the Missouri River are projected to receive little or no precipitation.

July 26 corn futures are $4.13, up 1 ¼ cents,

Nearby cash corn is $3.81 ¼, up 1 ¼ cents,

September 26 corn futures are $4.21 ½, up 1 ½ cents,

December 26 corn futures are $4.40 ¾, up 1 ¼ cents,

New‑crop cash corn is $3.96 ½, up 1 ¾ cents,

On the date of publication, Austin Schroeder

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