Corn Prices Dip Early on Thursday
Corn prices started Thursday with marginal losses, down 1 to 2 cents early in the day. This follows futures closing down a penny to 5 ¾ cents across most contracts at the Wednesday close.
The front months took the brunt of the hit, while open interest dropped 12,845 in the September contracts as some rolls began. Meanwhile, the rest of the board saw an increase of 15,476 contracts, indicating new selling interest.
The CmdtyView national average Cash Corn price was down 5 1/2 cents at $4.07. Export Sales data from USDA will be out shortly, with traders looking for 200,000 to 600,000 MT of old crop corn sales in the week ending on July 30.
Sales for 2026/27 are seen at 0.7-1.2 MMT. Weekly EIA data showed a total of 1.107 million barrels per day of ethanol production in the week of July 31, down 26,000 bpd from the previous week.