US Corn Futures Market Sees Bounce on Monday

The US corn futures market experienced a solid corrective bounce on Monday, driven by perceived bargain hunting following recent losses. The price of December corn rose 8.5 cents to $4.72.5, near its daily high and hitting a three-week low early in the day.

The USDA reported that weekly US corn inspections totaled 1.885 million metric tons during the week ended July 30, up 351,421 metric tons from the previous week. Net inspections were within analysts' pre-report range of 1.2 to 1.95 million metric tons.

AgRural raised its forecast for Brazil's 2025-26 corn production to 142.8 million metric tons, up from its previous estimate of 139.9 million metric tons in June.