Corn futures price stayed flat at $4

Corn futures price stayed flat at $4.88 despite a sharp drop in crude oil prices. Some traders link ethanol margin compression to potential softness in corn demand, but say end-user buying keeps a floor under prices. Export Sales data now has corn export sale commitments at 25.757 MMT, a record for the third week in the marketing year and 75% above the same week last year. That is 34% of the USDA export projection, compared to the 30% average sales pace. FOB US Gulf corn prices climbed by $4.00 per tonne since June 27 to $195.25 per tonne on Thursday, while FOB US PNW prices advanced by $4.50 per tonne to $208.75 per tonne. Corn futures price edges higher to $4.92, supported by firm cash bids in Illinois and Iowa. Traders emphasize the inverse basis trend, indicating localized tightness, though global surpluses continue to weigh on the broader sentiment.