Corn Starting Thursday on the Steadier Side
Corn price action is up 1 to 2 cents so far on Thursday. Futures were under pressure on Wednesday following USDA’s quarterly stocks report with front months down 18 ¼ to 21 ¼ cents and 2027 crop contracts steady to 9 ¼ cents lower. New short interest was noted, with open interest was up 18,753 contracts. The CmdtyView national average Cash Corn price was down 20 3/4 cents at $4.58.
The quarterly Grain Stocks report from NASS showed September 1 stocks of corn at 2.095 billion bushels. That was well above the 1.551 bbu from last year, and 173 mbu higher vs. the WASDE estimate for 2025/26 US corn ending stocks and 184 mbu above estimates.
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EIA data from Wednesday morning showed ethanol production in the week of September 25 at 1.0007 million barrels per day, dropping seasonally by 21,000 bpd on the week. Ethanol stocks saw another seasonal drawdown of 818,000 barrels to 23.865 million barrels.
Export Sales data will be out this morning, with traders looking for 0.5-1.3 MMT of 2026/27 corn bookings in the week of 9/24.
Dec 26 Corn closed at $5.00 3/4, down 21 1/4 cents, currently up 1 1/2 cents
Nearby Cash was $4.58 1/1, down 20 3/4 cents,
Mar 27 Corn closed at $5.15 1/2, down 20 1/2 cents, currently up 1 3/4 cents
May 27 Corn closed at $5.23 1/4, down 19 3/4 cents, currently up 1 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.
