Corn price action at Thursday’s midday is 2 to 5 cents higher. There were 73 deliveries against July futures overnight. The front month CmdtyView national average Cash Corn price is up 3 1/4 cents at $4.07. The market will be closed on Friday for Independence day, with a normal Sunday night open. 

A private export sale of 156,000 MT of corn was sold to unknown destinations for 2024/25 this morning according to USDA.

Rains are expected to cover much of the Western Corn Belt in the next week, with 1 to 2 inches expected. Lighter totals reaching an inch or less are seen in the ECB.

USDA’s Export Sales report from this morning showed 532,745 MT of old crop corn booked in the week ending on June 26, on the low side of traders looking for between 0.4 and 1 MMT. That was a marketing year low, but is still 49.2% above the same week in 2024. The largest buyer was South Korea at 273,700 MT, with 157,100 MT sold to Mexico. New crop sales totaled 940,159 MT, exceeding the expected range of 500,000 to 900,000 MT. That was a marketing year high and takes forward sales to 4.5 MMT, 28.6% above last year at this time. Mexico was the lead buyer of 435,700 MT, with 242,700 MT sold to Japan. 

Monthly export data from Census showed 7.29 MMT (287 mbu) of corn exported in May, which was up 22.14% from last year but down 6.4% below April. That brought the third quarter total to 882 mbu, with the full year total at 2.09 billion bushels. Distiller exports were up 2.67% from April at 918,108 MT, which was still 9.31% below last year. Ethanol exports were a record for the months at 184.67 million gallons.  

Jul 25 Corn  closed at $4.31 3/4, up 2 1/2 cents,

Nearby Cash  was $4.07, up 3 1/2 cents,

Sep 25 Corn  closed at $4.21 3/4, up 3 3/4 cents,

Dec 25 Corn  closed at $4.37 3/4, up 4 1/4 cents,

New Crop Cash  was $3.96 1/4, up 4 cents,