CBOT corn ends higher on short covering
CORN•Export sales and crop report in focus
Weekly U.S. corn export sales were 1 million metric tons for 2026-27, the USDA said, within analysts' expectations for 700,000 to 1.2 million metric tons.
Traders are beginning to turn some of their focus to next week's highly anticipated government crop reports, analysts said.
The U.S. Department of Agriculture is set to release its monthly crop supply and demand report on August 12, and will also update its yield, production and harvest acreage numbers for corn and soybeans.
One key question will be if the USDA adjusts any of these in a significant way, particularly corn planted acres, market analysts said.
Last August, the agency's forecast sent CBOT corn futures plunging after it projected a record-shattering corn harvest. The forecast spurred months of public criticism and questions about USDA data accuracy.
Corn futures end higher after short covering
Chicago Board of Trade corn futures traded both sides of unchanged on Thursday, but ended higher on short covering and technical trading, market analysts said.
Forecasts of timely rains across the U.S. Midwest kept pressure on prices for much of the session, traders said.
Most-active December corn CZ26 finished 2 cents higher at $4.62 a bushel.
