According to USDA’s Crop Progress report, 88% of the U.S. corn crop is in the silking stage, with 42% in the dough stage and 6% in the dent stage. Crop conditions remained steady this week at 73% good/excellent, with the Brugler500 index at 384.

StoneX has estimated U.S. corn yield at 188.1 bushels per acre, with total production at 16.323 billion bushels. Their estimate for Brazil’s second corn crop is 111.7 MMT, up 3.5 MMT from their previous projection.

Export Inspections data showed that 1.208 MMT (47.54 million bushels) of corn was exported during the week ending July 31, which is down 21.18% from the previous week and 5.08% below the same period last year. Mexico was the top destination with 572,682 MT, followed by 182,950 MT to Colombia and 147,823 MT to Japan. Since the beginning of the marketing year on September 1, total corn exports have reached 61.56 MMT (2.423 billion bushels), 28.36% higher year-over-year.