logo
Corn See Marginal Gains Ahead of USDA Data Release

Corn See Marginal Gains Ahead of USDA Data Release

Yahoo11-07-2025
Corn price action was mixed on Thursday with most contracts steady to a couple cents higher and nearby, thin July down 5 ¼ cents. Traders were squaring up ahead of USDA's report on Friday. The front month CmdtyView national average Cash Corn price was unchanged at $3.85 1/4.
USDA reported a private export sale of 110,000 MT of corn to unknown destinations this morning, all for new crop.
Coffee Prices Slip on Brazilian Real Weakness and Increased Supplies
The Golden Rule of Grains: Why "Imaginary Fundamentals" Are Crushing Corn & Soybeans
US Tariffs on Brazil Boost Arabica Coffee Prices
Our exclusive Barchart Brief newsletter is your FREE midday guide to what's moving stocks, sectors, and investor sentiment - delivered right when you need the info most. Subscribe today!
Export Sales data from the morning showed old crop corn coming in above 375,000 and 900,000 MT estimates at 1.262 MMT the week ending on July 7/3. That was an 8-week high for sales and more than double the same week last year and the week prior. Mexico was the largest buyer at 469,900 MT, with 436,200 MT sold to Japan. New crop also exceeded the trade range of 150,000 to 700,000 MT estimate for that week at 888,562 MT. That was down from the week prior but still the second largest so far this year. The top buyer was Mexico at 423,900 MT, with Japan in for 304,800 MT.
CONAB estimates the Brazilian corn crop at 131.97 MMT via their monthly release, up 3.72 MMT from last month on a 3.54 MMT increase to the second crop corn. Ahead of the USDA report on Friday, a survey of traders by Bloomberg shows estimated production out of Brazil at 132.3 MMT.
Jul 25 Corn closed at $4.07 1/4, down 5 1/4 cents,
Nearby Cash was $3.85 1/4, down 0 cent,
Sep 25 Corn closed at $3.99 1/4, unch,
Dec 25 Corn closed at $4.16 1/2, up 1 cent,
New Crop Cash was $3.75 1/8, up 1/2 cent,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Barchart.com
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Australia to reduce US beef import restrictions denounced by Trump as a ban
Australia to reduce US beef import restrictions denounced by Trump as a ban

Yahoo

time19 minutes ago

  • Yahoo

Australia to reduce US beef import restrictions denounced by Trump as a ban

MELBOURNE, Australia (AP) — Australia will reduce restrictions on U.S. beef imports after U.S. President Donald Trump criticized what he described as an Australian ban on the meat, Agriculture Minister Julie Collins said. Collins said Thursday that relaxing the restrictions designed to keep Australia free of mad cow disease, also known as bovine spongiform encephalopathy or BSE, among its cattle herds would not compromise biosecurity. 'Australia stands for open and free trade — our cattle industry has significantly benefited from this,' Collins said in a statement. Australia has allowed imports of beef grown in the United States since 2019. But Australia has not allowed imports from the U.S. of beef sourced from Canada or Mexico because of the disease risk. But the U.S. has recently introduced additional movement controls that identify and trace all cattle from Mexico and Canada to their farms of origin. US cattle import controls satisfy Australian authorities Australian authorities were 'satisfied the strengthened control measures put in place by the U.S. effectively manage biosecurity risks,' Collins said. The timing of the new, reduced restrictions has not been finalized. Trump attacked Australian import restrictions on U.S. beef when he announced in April that tariffs of at least 10% would be placed on Australian imports, with steel and aluminum facing a 50% tariff. 'Australia bans — and they're wonderful people, and wonderful everything — but they ban American beef,' Trump told reporters then. 'Yet we imported $3 billion of Australian beef from them just last year alone. They won't take any of our beef. They don't want it because they don't want it to affect their farmers and, you know, I don't blame them, but we're doing the same thing right now,' Trump added. Lawmaker fears appeasing Trump endangers Australian cattle industry Opposition lawmaker David Littleproud suspected the government was endangering Australia's cattle industry to appease Trump. 'I want to see the science and it should be predicated on science. I'm suspicious of the speed at which this has been done,' Littleproud told reporters. 'We need to give confidence to the industry, but also to you (the public): this is not just about animal welfare, this is about human welfare, this is about BSE potentially coming into this country and having a human impact, so I think it's important the government's very transparent about the science and I don't think it's even beyond the question to have an independent panel review that science to give confidence to everybody,' he added. Around 70% of Australian beef is exported. Producers fear that export market would vanish overnight if diseases including mad cow or foot-and-mouth disease infected Australian cattle. Will Evans, chief executive of Cattle Australia who represents more than 52,000 grass-fed beef producers across the nation, said he was confident the agriculture department had taken a cautious approach toward U.S. imports. 'The department's undertaken a technical scientific assessment and we have to put faith in them. They've made this assessment themselves. They've said: 'We've looked at this, we've looked at the best science, this is a decision that we feel comfortable with,'' Evans told the Australian Broadcasting Corp. 'When you have a 75 billion (Australian dollar, $50 billion) industry relying on them not making this mistake, I'm sure they've been very cautious in their decision-making,' he added. US beef prices rise because of drought and a domestic cattle shortage Beef prices have been rising in the U.S. due to factors that include drought and shrinking domestic herd numbers. The average price of a pound of ground beef in the U.S. rose to $6.12 in June, up nearly 12% from a year ago, according to U.S. government data. The average price of all uncooked beef steaks rose 8% to $11.49 per pound. Australia's opposition to any U.S. tariffs will be high on the agenda when Prime Minister Anthony Albanese secures his first face-to-face meeting with Trump. Albanese and Trump were to hold a one-on-one meeting on the sidelines of a Group of Seven summit in Canada last month, but the U.S. president left early. Albanese expects the pair will meet this year, although no date has been announced. The two countries have had a bilateral free trade deal for 20 years and the U.S. has maintained a trade surplus with Australia for decades. Rod Mcguirk, The Associated Press

FDA Declines to Approve New Melanoma Therapy
FDA Declines to Approve New Melanoma Therapy

Medscape

time20 minutes ago

  • Medscape

FDA Declines to Approve New Melanoma Therapy

The FDA has declined to approve a new oncolytic immunotherapy, vusolimogene oderparepvec (RP1), to treat advanced melanoma. The agency recently issued a complete response letter to the company, Replimune Group, rejecting its biologics license application that sought approval for the new agent in combination with nivolumab (Opdivo) to treat adults with advanced melanoma. In the complete response letter, the FDA indicated that it can't approve the biologics license application for vusolimogene oderparepvec because the company's IGNYTE trial 'is not considered to be an adequate and well-controlled clinical investigation that provides substantial evidence of effectiveness,' Replimune explained in a press release. According to Replimune, the complete response letter also noted that the trial data 'cannot be adequately interpreted due to the heterogeneity of the patient population,' and that 'there are items related to the confirmatory trial study design which need to be addressed.' 'We are surprised by the FDA decision and disappointed for advanced melanoma patients who have limited treatment options, as highlighted by the granting of breakthrough status at the time we provided the IGNYTE primary data,' stated Sushil Patel, PhD, Replimune's chief executive officer. Vusolimogene oderparepvec is the lead product candidate for the biotech company. Patel further noted that the issues raised in the complete response letter were not 'raised by the agency in mid- and late-cycle reviews.' Additionally, he said, 'we had also aligned on the design of the confirmatory study.' The FDA's response to the biologics license application for the new agent, along with its recently announced policy requiring randomized, controlled trials for approval of COVID vaccines in healthy Americans younger than 65 years, may signal that the agency is taking a tougher stance on new drug approvals. Replimune plans to 'urgently interact with the FDA to find a path forward for the timely accelerated approval of RP1,' according to its statement. Sharon Worcester, MA, is an award-winning medical journalist based in Birmingham, Alabama, writing for Medscape Medical News, MDedge, and other affiliate sites. She currently covers oncology, but she has also written on a variety of other medical specialties and healthcare topics. She can be reached at sworcester@ or on X @SW_MedReporter.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store