Key Moments
- Corn futures were trading 5 to 6 cents higher on Friday morning after losing 5 to 9 cents in the prior session.
- Weekly old-crop export sales reached 410,748 MT, a 5-week high, while new-crop bookings of 924,532 MT marked a 3-week low.
- Brazil’s 2025/26 corn production estimate was increased by 1.23 MMT to 142.96 MMT, driven largely by gains in second-crop output.
Futures Reclaim Ground Early Friday
Corn futures were firmer by 5 to 6 cents on Friday morning, recovering a portion of the previous session’s losses. On Thursday, contracts retreated from the prior Wednesday rally, closing between 5 and 9 cents lower across the board. Open interest expanded by 11,566 contracts during Thursday’s session, indicating increased market participation amid the pullback.
The CmdtyView national average Cash Corn price declined by 9 cents to $4.18 1/4.
Export Sales Show Mixed Old- and New-Crop Momentum
Export Sales data released on Thursday reported total old-crop bookings of 410,748 MT for the week of August 6. This represented a 5-week high and contrasted sharply with net cancellations recorded in the same week a year earlier.
Spain led old-crop demand with purchases of 257,600 MT, followed by Mexico at 74,000 MT.
New-crop commitments for that week were reported at 924,532 MT. While sizable, this volume was a 3-week low and 54.9% below the comparable week last year. Mexico was again a key buyer with 416,400 MT, while unknown destinations accounted for 253,700 MT.
Brazilian Supply Outlook Rises
According to the latest projection from CONAB, Brazil’s 2025/26 corn production outlook was raised by 1.23 MMT to 142.96 MMT. The increase was largely attributed to second-crop output, which was boosted by 1.6 MMT to 111.03 MMT.
Corn Market Snapshot
| Contract / Cash | Most Recent Close | Change at Close | Current Move |
|---|---|---|---|
| Sep 26 Corn | $4.48 | down 9 cents | currently up 5 cents |
| Nearby Cash | $4.18 1/4 | down 9 cents | – |
| Dec 26 Corn | $4.72 | down 8 3/4 cents | currently up 5 1/4 cents |
| Mar 27 Corn | $4.87 3/4 | down 8 3/4 cents | currently up 5 1/4 cents |
| New Crop Cash | $4.23 7/8 | down 8 1/2 cents | – |
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