Corn Prices Drop as Traders Close Out July
On Friday, corn futures declined by 6 to 8 cents at midday due to spillover from wheat prices, recent rainfall in key growing regions, and month-end trading activity. The CmdtyView national average Cash Corn price fell 8¼ cents to $4.08¼ as rain affected parts of the Midwest overnight. Additional precipitation is expected over the next week across several Midwestern states, potentially impacting crop conditions. Old crop corn sales reached 86.975 MMT—103% of USDA projections—and accumulated shipments are at 76.373 MMT or 90% of export forecasts. In contrast, new crop corn sales remain just slightly above the same period last year at 8.624 MMT. Key futures contracts show declines: September Corn is down to $4.38¾ (down 7 cents), December Corn fell to $4.61¾ (down 6¾ cents), and March 2027 Corn dropped to $4.77½ (down 7 cents).
Tickers: $CORN
Topics: corn futures trading grains