Corn prices are fractionally lower to start Thursday. Futures saw steady to 3 cent higher trade across most contracts on Wednesday, as futures got a midweek bounce. Open interest was up 29,205 contracts on Wednesday, suggesting modest new open interest. The CmdtyView national average Cash Corn price was up 2 3/4 cents at $4.13 1/4.
The average close for December corn futures in October has been $4.78, as there are just 2 days left for the harvest price crop insurance discovery period.
USDA’s Export Sales report will be released this morning, as a Reuters survey of traders shows expectations of 0.8-1.6 MMT in 2026/27 corn sales during the week of 10/22. Sales for 2027/28 are seen at 0-50,000 MT.
EIA’s weekly report showed ethanol production in the week of October 23 increasing 24,000 barrels per day to 1.118 million bpd. Ethanol stocks were down 35,000 barrels to 24.523 million barrels. Refiner inputs of ethanol were up 16,000 bpd to 907,000 bpd, despite the lowest gasoline product supplied number (8.358 million bpd) since February.
A South Korean importer tendered for 138,000 MT of wheat overnight with offers due today.
Dec 26 Corn closed at $4.51 3/4, up 3 cents, currently down 1/4 cent
Nearby Cash was $4.13 1/4, up 2 3/4 cents,
Mar 27 Corn closed at $4.65, up 2 1/4 cents, currently down 3/4 cent
May 27 Corn closed at $4.72 3/4, up 1 1/2 cents, currently down 3/4 cent
Dec 27 Corn closed at $4.90, unch, currently unch
New Crop Cash was $4.44 1/1, up 1/2 cent,
On the date of publication, Austin Schroeder did not directly have a position 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.