Corn Pulling Back on Wednesday
Corn futures are slipping back lower on Wednesday’s midday, as contracts are down 2 to 3 ¼ cents in the nearbys. The CmdtyView national average Cash Corn price is down 3 1/4 cents at $3.82 ¾.
The weekly EIA report showed ethanol production dropping 50,000 barrels per day in the week ending on September 12 to 1.055 million barrels per day. That was still an increase of 6,000 bps from the week last year. Stocks of ethanol were down 235,000 barrels to 22.602 million barrels. Refiner inputs of ethanol were up 42,000 bpd to 922,000 bpd.
USDA’s Export Sales report is estimated to show between 0.5 to 1.9 MMT in 2025/26 corn sales in the week ending on 9/11.
A private South Korean importer purchased 65,000 MT of corn in a tender late last week. Stats Canada data from this morning showed 15.5 MMT of corn production in the country for this year, up 1% from a year ago and near the August estimate.
Dec 25 Corn is at $4.26 1/4, down 3 1/4 cents,
Nearby Cash is at $3.82 3/4, down 3 1/4 cents,
Mar 26 Corn is at $4.44 1/4, down 2 3/4 cents,
May 26 Corn is at $4.54 1/4, down 2 1/2 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.
