Corn futures fall as stocks rise
CORN•Chicago corn futures fell for a fourth consecutive session, down 0.05% to $5.50 a bushel. U.S. corn stocks on September 1 were 35% higher than a year earlier, the USDA said.
1. Corn stocks weigh
Chicago corn futures fell for a fourth consecutive session on Thursday. The contract was down 0.05% at $5.50 a bushel by 0245 GMT, after trading between $5 and $5.03.
2. Storage and harvest
U.S. farmers and grain handlers held 35% more corn in storage on September 1 than a year earlier, the USDA said Wednesday. Spot corn basis bids softened in the Midwest as forecasts pointed to improving weather that could support harvest progress and grain movement.
3. Other grains decline
Wheat futures fell 0.15% to $6.74¾ a bushel, while soybeans were down 0.29% to $12.89¼. Sovecon cut its forecast for Russia’s 2026/27 grain exports to 44.7 million metric tons from 49.4 million, warning that Azov and Black Sea ports would remain shut until 2027.
