Corn Futures Maintain Gains Amid Lower Crop Yields

Corn futures have maintained their gains from Wednesday, trading higher across most contracts. The CmdtyView national average Cash Corn price was down $0.0175 at $4.351/2.

The ProFarmer Crop Tour results revealed lower corn yields in Nebraska and Indiana compared to last year's averages. Nebraska corn yields averaged 163.61 bushels per acre, down 8.85% from the previous year and 5.6% below the three-year average. Meanwhile, Indiana yields came in at 183.54 bpa, a decline of 5.3% from last year and 2.1% lower than the three-year average.

The USDA will release Export Sales data on Thursday morning, with traders expecting total old crop corn sales between 0-500,000 MT for the week ending August 13. New crop business is seen at net sales ranging from 0.5 to 1.3 MMT.