July 9, 2026, 11:03 AM EDT. Corn prices dropped another 2 to 4 cents Thursday morning after last week's sharp rally. On Wednesday, futures lost 3 to 8 ¾ cents and open interest fell by 3,588 contracts. The latest EIA numbers showed ethanol output slipped 24,000 barrels per day, though exports rose 74,000 bpd. Traders are waiting for the USDA Export Sales report Thursday, with old crop sales estimates seen in a 0.6-1.1 million metric ton range. Forecasts call for 1-2 inches of rain mostly south of I-80, but big parts of the Corn Belt stay dry. The market is also watching Friday's USDA update, with analysts looking for a 66 million bushel trim to old crop corn stocks at 2.079 billion bushels.
