Corn price action is down 13 to 14 cents so far on Thursday. Futures rounded out the Wednesday session with contracts fading the midday gains and closing 1 to 2 ¾ cents in the red. Some deferreds finished the day higher. Open interest was up 13,042 contracts on Wednesday. There were another 114 deliveries issued against September corn overnight. The CmdtyView national average Cash Corn price was down 1 1/2 cents at $4.98 3/4.
Early this morning Russia’s President Putin stated there was a chance of the peace deal with Ukraine.
Wednesday’s EIA report showed ethanol production in the week that ended on August 28 at 1.11 million barrels per day, down just 2,000 bpd on the week. Stocks saw a draw of 171,000 barrels to 25.036 million barrels. Refiner inputs of ethanol rose 17,000 bpd to 940,000 bpd as exports slipped 58,000 bpd to 104,000 bpd.
USDA will be out with Export Sales data this morning with traders looking for between net cancellations of 200,000 MT and sales of 200,000 MT for 2025/26 corn. New crop 2026/27 bookings are seen in a range of 500,000 MT to 1.6 MMT for the week ending on August 27.
An Allendale producer survey estimates the US corn yield at 178.7 bpa, with production at 15.833 bbu.
Sep 26 Corn closed at $5.18 3/4, down 2 3/4 cents, currently down 14 cents
Nearby Cash was $4.98 3/4, down 1 1/2 cents,
Dec 26 Corn closed at $5.43 1/2, down 2 1/2 cents, currently down 13 3/4 cents
Mar 27 Corn closed at $5.58 1/4, down 2 cents, currently down 13 3/4 cents
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. For more information please view the Barchart Disclosure Policy here.