Corn Prices Slip Back Following Wednesday's Rally

Corn futures are trading lower on Thursday morning, following Wednesday's rally. Prices slipped back by 3 to 4 cents, after contracts closed down 18 to 20 ½ cents in through next July. However, deferreds showed some support, rising by 4 to 11 ½ cents.

The recent rally was attributed to spillover gains from wheat and increasing Black Sea strikes. The CmdtyView national average Cash Corn price rose by 20 1/4 cents to $4.27 1/4.

Wednesday's Crop Production report from NASS revealed a yield of 180.7 bushels per acre, with planted acreage raised by 1.4 million acres from the June report. Harvested acres were up 1.2 million to 88.6 million, while prevent plant acres for corn stood at 1.355 million.

Production was estimated at 16.013 billion bushels, exceeding the July WASDE number by 13 million and nearly 80 million above estimates. Ending stocks for 2025/26 were down 75 million bushels from last month on increased exports at 1.945 billion bushels.