According to export sales data, old crop corn bookings showed a net reduction of 27,109 MT, an improvement compared to the 88,686 MT net reduction last week. New crop sales for the week ending August 14 were reported at 2.86 MMT, the second largest for the marketing year and up 39.7% from last week. The largest buyer was an unknown destination with 949,400 MT, while Mexico purchased 749,000 MT.

On the third day of the annual ProFarmer Tour, Illinois yield was estimated at 199.57 bpa, down from last year’s record of 204.14 bpa but above the 3-year average of 196.19 bpa. USDA projects a 4 bpa year-over-year increase. Yields in Iowa’s western three districts were above both last year and the 3-year average: 197.89 bpa in the northwest, 207.25 bpa in the west-central, and 195.03 bpa in the southwest. Full results for Iowa and Minnesota will be released later.

The International Grains Council (IGC) estimated world corn production at 1.299 billion MT, up 23 MMT from last month. Stocks rose 16 MMT to 294 MMT, while consumption was raised by 13 MMT.