U.S. corn opens August lower as September slips 5 cents to $4.4075 a bushel
AI Market Summary
U.S. corn futures and cash prices opened August weaker, pressured by spillover softness from wheat, improved Midwest rainfall, and month-end positioning. Brazilian second-crop harvest progress (69%) and higher supply expectations reinforce the near-term bearish tone. While managed money previously increased net length, falling open interest suggests some long liquidation, adding to downside pressure across grain markets.
Impact level
● Low
Affected assets
NCCOCOTTON2USD/USDT+1.45%
AI Insight · NCCOCOTTON2USD/USDTAI Insight
▼ Bearish
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U.S. corn futures and cash prices broadly declined, with the September contract down 5 cents to $4.4075 a bushel and December down 4.5 cents to $4.64. The national average cash corn price fell 6 cents to $4.10 a bushel. The drop was attributed to spillover weakness from wheat, improved rains in the U.S. Midwest, and month-end pressure. Brazil’s second-crop corn harvest reached 69% and total output is forecast at 142.8 MMT, bolstering supply expectations.
