Corn price action is down 1 to 2 cents early on Thursday. Futures closed down a penny to 5 ¾ cents across most contracts at the Wednesday close, as pressure continues. The front months took the brunt of the hit. Open interest dropped 12,845 in the September contracts as some rolls were beginning, with the rest of the board up 15,476 contracts, implying new selling interest. The CmdtyView national average Cash Corn price was down 5 1/2 cents at $4.07.
Export Sales data from USDA will be out shortly, with traders looking for 200,000 to 600,000 MT of old crop corn sales in the week ending on July 30. Sales for 2026/27 are seen at 0.7-1.2 MMT
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Weekly EIA data showed a total of 1.107 million barrels per day of ethanol production in the week of July 31. That was down 26,000 bpd from the week prior. Stocks saw a draw of 202,000 barrels to 24.524 million barrels. Ethanol exports were 200,000 bpd in that week, up 63,000 bpd from the week prior, with refiner stocks down 3,000 bpd to 936,000 bpd.
The NOAA 7-day QPF shows rains across much of IA, MO, IL, IN, WI, MI, and OH over the next week with totals nearing 1 to up to 4 inches in some locations.
Sep 26 Corn closed at $4.36 3/4, down 5 1/2 cents, currently down 1 cent
Nearby Cash was $4.07 1/1, down 5 1/2 cents,
Dec 26 Corn closed at $4.60, down 5 1/2 cents, currently down 1 1/4 cents
Mar 27 Corn closed at $4.75 3/4, down 5 3/4 cents, currently down 1 1/4 cents
New Crop Cash was $4.10 3/8, down 6 cents,
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