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Core prices boosted by better-than-expected export activities
AI Summary
- Corn futures climbed on the Chicago Board of Trade due to improved export activity, with contracts gaining between 5 and 6.25 cents in mid-session
- US Department of Agriculture announced two private export sales of corn to Mexico and Guatemala for the 2025/2026 marketing year
- Brazil exported 2.434 million metric tons of corn in July, down 31.51% from last year but still higher than June, attributed to a slower second-crop harvest and prioritization of soybean shipments
Corn futures climbed during Thursday trading on the Chicago Board of Trade, supported by improved export activity after the December contract held the key $4.00 level on Wednesday.
Contracts gained between 5 and 6.25 cents in mid-session, while the national average cash corn price on the CmdtyView platform rose by 5.75 cents to $3.6825 per bushel.
The US Department of Agriculture announced two private export sales: 106,680 metric tons of corn to Mexico and 105,000 metric tons to Guatemala, both scheduled for delivery in the 2025/2026 marketing year.
Export sales data showed 170,428 metric tons of old-crop corn sold, marking the second-lowest level of the season and falling short of expectations that ranged from 200,000 to 400,000 metric tons for the week ending July 31. However, new-crop sales exceeded forecasts of 1.3 to 2.5 million metric tons, reaching 3.16 million metric tons. This brought total sales for the 2025/2026 season to 11.777 million tons, the second-highest weekly level for this time of year since 2021/2022, which was driven by strong Chinese demand.
Meanwhile, Brazil exported 2.434 million metric tons of corn in July, down 31.51% from the same period last year, though still higher than June’s total. The decline was attributed to a slower second-crop harvest and the continued prioritization of soybean shipments in shipping schedules.
Corn
At the close, December corn futures rose 1.4% to $4.07 per bushel.
Soybeans
November soybean futures gained 1% to $9.93 per bushel.
Wheat
September wheat futures climbed 1.9% to $5.18 per bushel.
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