Corn futures returned to growth on Friday

Chicago corn futures returned to gains on Friday, August 14, following a correction in the previous session. In early trading, contracts were up 5–6 cents/bushel, with December futures trading at around $4.76/bushel. On Thursday, prices fell by 5–9 cents after a strong rally on Wednesday.

Buyers returned to the market following profit-taking during the previous session. The market continues to price in supply risks and a tighter US corn balance. Lower projected US stocks amid strong export demand are also providing additional support to futures.

US old-crop corn export sales totaled 410.7 thsd tons in the week ended August 6, the highest level in five weeks. Spain was the largest buyer with 257.6 thsd tons, while Mexico purchased another 74 thsd tons.

Meanwhile, new-crop corn sales slowed to 924.5 thsd tons, a three-week low and 54.9% below the level recorded in the same week last year. Mexico purchased 416.4 thsd tons, while another 253.7 thsd tons were sold to unknown destinations.

Higher supplies from Brazil are limiting further price gains. CONAB raised its 2025/26 corn production forecast by 1.23 mln tons to 142.96 mln tons. The estimate for the second corn crop was increased by 1.6 mln tons to 111.03 mln tons. The market is therefore balancing tighter stocks and strong demand in the US against prospects for ample Brazilian supplies.

Tags: corn, prices