Corn Futures Open Lower After Wednesday's Rally

Corn futures opened Thursday morning lower by 3 to 4 cents after closing Wednesday's session down 18 to 20 ½ cents for contracts expiring in July. Deferreds, however, closed up 4 to 11 ½ cents. This volatility follows a rally on Wednesday, with the CmdtyView national average Cash Corn price rising 20 1/4 cents to $4.27 1/4.

The US Department of Agriculture's Crop Production report released on Wednesday showed corn yields at 180.7 bpa, planted acreage increased by 1.4 million acres from the June report, and harvested acreage up 1.2 to 88.6 million acres. Prevent plant acres for corn were reported at 1.355 million acres.

According to the World Agricultural Supply and Demand Estimates (WASDE) data, ending stocks for 2025/26 are down 75 mbu from last month due to an increase in exports at 1.945 bbu. New crop stocks were pegged at 1.653 bbu, while world ending stocks fell by 0.6 MMT for the new crop estimates.