CBOT Corn Futures Slip on Profit-Taking Amid Higher Yields

Corn futures at the Chicago Board of Trade (CBOT) declined on Thursday as profit-taking after Wednesday's rally weighed on prices. The cuts to U.S. corn yields and ending stocks projections remained supportive, but the increase in corn production due to higher area likely contributed to the market's turnaround.

The weekly U.S. export sales data showed about 410,000 tonnes of old crop business and an additional 924,000 tonnes for the 2026-27 crop. Brazil's CONAB released updated production estimates placing the country's 2025-26 corn crop at 143 million tonnes, above the USDA's estimate of 140 million tonnes.

The Rosario Grain Exchange raised their estimate for Argentina's corn crop to 70.5 million tonnes, compared with the USDA's estimate of 63 million tonnes. For the 2026-27 crop, they forecasted 66 million tonnes.