CBOT Corn Futures Dip as Profit-Taking Takes Hold
Corn futures at the Chicago Board of Trade (CBOT) were lower on Thursday due to profit-taking after Wednesday's rally. Despite this, the market was still supported by cuts to U.S. corn yields and ending stocks projections.
The increase in corn production from July, attributed to increased area, may have contributed to the turnaround in the market. Weekly U.S. export sales data showed about 410,000 tonnes of old crop business and an additional 924,000 tonnes to move in 2026-27.
Brazil's CONAB released updated production estimates placing the country's 2025-26 corn crop at 143 million tonnes, above the USDA's latest estimate of 140 million tonnes. The Rosario Grain Exchange also raised their estimate for Argentina's corn crop to 70.5 million tonnes, compared to the USDA's estimate of 63 million tonnes.