Corn prices are fractionally lower so far on Thursday morning. Futures closed the Wednesday session with contracts down 1 to 4 ½ cents across the board. Open interest rose 14,976 on Wednesday, as December was down 28,588 contracts, rolling to March (+27,066). The CmdtyView national average Cash Corn price was up 1/2 cents at $4.15.
The weekly EIA report is delayed until today due to the Veterans Day federal holiday. Most are looking for ethanol production to hold up following the week prior’s second largest output total on record. Export Sales data will be pushed back to Friday due to the Wednesday Veterans Day federal holiday.
Tuesday’s NASS Crop Production showed US corn yield projected at 179.6 bushel per acre, down 1.6 bpa compared to the October estimate. Production was tallied at 15.893 billion bushels, which was 141 mbu below last month. WASDE data showed US ending stocks 91 mbu lower to 1.758 bbu, mainly due to the production number, as demand was trimmed by 50 mbu (-25 mbu each for exports and feed). World carryout for 2026/27 was 1.5 MMT higher to 281.94 MMT, as the South American numbers were revised higher by 4 MMT on a 2 MMT increase to each Brazil and Argentina. USDA also revised their 2025/26 Brazilian number by 3.5 MMT higher to 144.5 MMT.
Brazil’s ANEC estimates the country’s November export total at 7.21 MMT, increase of 6.02 MMT from the previous estimate.
Dec 26 Corn closed at $4.48, down 1 cent, currently down 1/2 cent
Nearby Cash was $4.15 0/1, up 1/2 cent,
Mar 27 Corn closed at $4.60 1/4, down 1 1/4 cents, currently down 1/4 cent
May 27 Corn closed at $4.68 1/4, down 1 1/2 cents, currently down 1/4 cent
Dec 27 Corn closed at $4.86, down 4 1/2 cents, currently down 1 cent
New Crop Cash was $4.50 1/2, down 3 3/4 cents,
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.