Corn futures are trading 2 to 3 cents higher on Friday morning, extending gains from Thursday when contracts closed 1¼ to 2¼ cents higher. The USDA reported export sales of 116,740 metric tons of corn for the 2025/26 marketing year, a marketing-year low and 31.5% below the same week last year, while sales for 2026/27 reached 1.027 million metric tons, near the high end of expectations. A Reuters survey ahead of next week's August Crop Production report pegs the expected yield at 182.4 bushels per acre, with production estimated at 15.934 billion bushels as harvested acres are trimmed by 76,000 acres. Brazilian corn exports in July totaled 1.943 million metric tons, down 21.16% from a year ago, and ANEC estimates August exports at 4.08 million metric tons, a drop of 3.26 million metric tons from last year. A South Korean importer purchased 134,000 metric tons of corn in a tender overnight.
USDA export sales for 2026/27 near high end of expectations, Brazilian exports down, and South Korean tender support prices.
