Corn Reverts Back Lower on Thursday

Corn futures declined from the previous rally on Thursday, with prices dropping 5 to 9 cents at market close. The national average Cash Corn price for the CmdtyView fell to $4.18 1/4. Export Sales figures showed 410,748 metric tons sold during the week of August 6, marking a 5-week high and a significant increase compared to the same period last year.

Spain was the largest importer, purchasing 257,600 MT, followed by Mexico, which bought 74,000 MT. New crop sales were recorded at 924,532 MT, a 3-week low and a 54.9% decrease compared to the same week in the previous year, with Mexico being the top buyer at 416,400 MT. Additionally, coffee prices fell as Colombian exports partially resumed.

Brazil's 2025/26 crop production was raised by 1.23 million metric tons to 142.96 million metric tons, largely due to a 1.6 million metric ton increase in the second crop.