HKG:0358 1 December 2025

June 12, 2026, 5:07 PM EDT. Corn futures fell 7 to 10 ½ cents on Thursday, pressured by USDA's higher South American production estimates. Brazil's output was raised to 138 million metric tons (MMT), Argentina to 61 MMT, contributing to increased global supplies. USDA's monthly World Agricultural Supply and Demand Estimates (WASDE) report showed U.S. old crop ending stocks up 3 million bushels (mbu) to 2.145 billion bushels (bbu) and revised ethanol usage lower by 25 mbu. Export sales rose 13.3% from the previous week, led by Japan. July corn settled at $4.11 ¾, down 7 ¼ cents, reflecting market adjustments to supply changes. The broader market reacted to increased new crop carryout projected at 281.22 MMT globally, up 3.68 MMT year-over-year, signaling ample supply ahead.