Corn Extends Bounce to a Second Day to Close Out July
Corn futures were up another 1 to 2 ¼ cents at the close on Thursday to close out July trade that saw September fall below $4. The CmdtyView national average Cash Corn price was up 2 cents at $3.76 3/4.
A slew of private export sales were announced this morning, with 100,000 MT to Colombia, 140,000 MT to South Korea, and 136,000 MT to unknown destinations reported all for 2025/26.
Late on Wednesday, President Trump announced a trade deal with South Korea, setting the US tariff on South Korean goods at 15%. The US and Mexico have also agreed to extend the tariff pause for another 90 days.
USDA reported a total of 340,924 MT of old crop corn sold in the week ending on July 24, in the middle of the 200,000 to 800,000 MT estimates. That was down from the week prior but is still more than double the same week last year. Japan was the largest buyer of 175,400 MT with 93,300 MT sold to Mexico. New crop bookings exceeded the 0.6 and 1.6 MMT trade estimates at 1.892 MMT. That was a marketing year high for the 2025/26 crop. Some of that was previously announced (772,110 MT), as unknown buyers purchased a total of 657,700 MT, with South Korean buyers in for 467,000 MT.
Sep 25 Corn closed at $3.94, up 2 1/4 cents,
Dec 25 Corn closed at $4.13 3/4, up 1 1/2 cents,
Mar 26 Corn closed at $4.30 1/2, up 1 cent,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.