Corn Sees Some Green on Wednesday
Corn futures posted a slight bounce back on Wednesday, with contracts fractionally to 2 ½ cents in the green at the close. The CmdtyView national average Cash Corn price was up 2 1/2 cents at $3.74 3/4.
Weekly ethanol production was tallied at 1.096 million barrels per day during the week of July 25, up 18,000 bpd from the week prior. Stocks were up 272,000 barrels to 24.716 million. Ethanol exports rose to a 6-week high at 154,000 bpd, with refiner inputs of ethanol up 3,000 to 920,000 bpd.
Traders expected the Thursday morning Export Sales report to show 200,000 to 800,000 MT of 2024/25 corn sold in the week ending on July 24. New crop is expected to be between 0.6 and 1.6 MMT in bookings.
A South Korean importer purchased a total of 195,000 MT of corn in a tender overnight. A Taiwan importer also purchased a total of 65,000 MT of corn from the US in their tender overnight.
Brazil’s corn crop for 2025/26 is estimated at 140.9 MMT according to Datagro.
Sep 25 Corn closed at $3.91 3/4, up 2 1/2 cents,
Nearby Cash was at $3.74 3/4, up 2 1/2 cents,
Dec 25 Corn closed at $4.12 1/4, up 1 1/4 cents,
Mar 26 Corn closed at $4.29 1/2, up 3/4 cent,
New Crop Cash was at $3.79 1/2, up 1 1/4 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.