Corn Prices Edge Higher Ahead of Key USDA Supply Report

Corn futures are showing mixed momentum at the start of Friday’s trading session, with the July contract up 1 ¾ cents, while other near-term months are holding slightly lower. Thursday’s session saw futures close with losses ranging from 2 to 4 ¼ cents, as July futures slipped 7 cents. Open interest declined by 1,845 contracts on Thursday, primarily in front-month contracts. Twelve delivery notices were issued against the July contract overnight. The national average cash corn price from CmdtyView was 3 1/4 cents lower at $4.01 3/4.

Thursday’s USDA Export Sales report revealed a total of 565,810 metric tons of old crop corn bookings for the week ending July 2, marking the second-lowest total for the marketing year and a 55.2% decline from the same period last year. Mexico led as the top destination with 168,900 MT, followed by 162,900 MT to Japan and 149,800 MT to Colombia. New crop sales for the same week totaled 401,667 MT, a 44.8% reduction compared to 2025, with South Korea purchasing the largest volume at 136,000 MT, alongside 112,000 MT to Japan and 57,000 MT to Colombia. Year-to-date sales for 2026/27 currently stand at 6.55 million metric tons, representing a 20.8% increase over last year’s figures.

The upcoming monthly WASDE report, scheduled for release later today, is anticipated by Bloomberg analysts to show a 66 million bushel reduction in old crop U.S. corn stocks to 2.079 billion bushels, with new crop carryout expected to fall 61 million bushels to 1.899 billion bushels. Additionally, COGEL adjusted its EU and UK corn production estimates downward by 4.5 million metric tons to 57.2 million metric tons.

July 26 Corn futures closed at $4.27 3/4, down 7 cents, but are currently up 1 3/4 cents. Nearby cash corn prices were $4.01 3/4, down 3 1/4 cents. September 26 Corn contracts ended at $4.31 1/2, down 3 ½ cents, and are now down ¼ cent. December 26 Corn futures closed at $4.52, down 4 ¼ cents, and remain ¼ cent lower. New crop cash prices were $4.03 1/8, down 3 ½ cents.

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