CBOT Corn Prices Slip Amid Profit-Taking, Soybean Sales Hold Steady

Corn futures at the Chicago Board of Trade (CBOT) experienced a downturn on Thursday due to profit-taking after a previous day's rally, according to the Canadian Cattlemen. Despite revised projections for US corn yields and ending stocks remaining supportive, higher production estimates likely contributed to the price drop.

The market received mixed signals from updated production estimates from Brazil's CONAB, which placed the country's 2025-26 corn crop at 143 million tonnes, surpassing the USDA's latest estimate of 140 million tonnes. Similarly, Argentina's corn crop forecast was revised upward by the Rosario Grain Exchange to 70.5 million tonnes.

Soybean futures were narrowly mixed, with a bias towards lower prices in the most active months. Weekly US soybean export sales matched trade estimates at 75,000 tonnes of old crop business and 1.8 million tonnes of new crop.