Corn Falling Early on Thursday
Corn price action is down 3 to 4 cents on Thursday morning. Futures saw some late session strength as contracts closed with losses of 1 ½ to 2 ¼ cents across the board on Wednesday. Open interest was up 7,449 contracts on Wednesday. The CmdtyView national average Cash Corn price was down 1 1/2 cents at $4.89.
The weekly EIA report showed ethanol production at 1.099 million barrels per day in the week of 9/4, steady with the week prior. That is still 4.17% above the same week last year. Stocks saw a 33,000 barrel increase to 25.22 million barrels, which is 11.58% above the same week last year. Refiner inputs of ethanol were up 3,000 barrels per day to 911,000 barrels per day, with exports up 14,000 barrels per day to 161,000 bpd.
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Export Sales data will be out this morning, with traders looking for a total of 0.7 to 2 MMT in 2026/27 corn sales in the week of 9/10.
Stats Canada released their initial production data on Wednesday morning, with corn output in Canada at 16.55 MMT, an 11.3% increase from last year.
A South Korean importer purchased 134,000 MT of corn in a tender overnight.
Dec 26 Corn closed at $5.34 1/4, down 1 1/2 cents, currently down 3 3/4 cents
Nearby Cash was $4.89, down 1 1/2 cents,
Mar 27 Corn closed at $5.48 3/4, down 1 1/2 cents, currently down 4 cents
May 27 Corn closed at $5.55 1/4, down 1 1/2 cents, currently down 3 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.
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