Corn price action is factionally mixed so far on Thursday morning. Futures closed out Wednesday trade with contracts steady to 2 cents higher. Preliminary ope interest dropped 20,920 contracts on Wednesday. The CmdtyView national average Cash Corn price was up 3 cents to $3.95 1/2.
Following the meeting between President Trump and President Xi of China, President Trump posted that China is set to purchase massive amounts of sorghum, though no specifics were given on total.
With just 2 days remaining in the harvest price discovery for crop insurance, December corn has an average close at $4.21 during October. That is up a nickel from last year and down 49 cents from the spring price.
EIA data from Wednesday morning showed ethanol production totaling 1.091 million barrels per day in the week of 10/24. That was a 21,000 bpd drop from the week prior. Stocks of ethanol saw a build of 448,000 barrels to 22.367 million barrels. Refiner inputs of ethanol were steady at 911,000 barrels per day, with exports up 45,000 bpd to 175,000 bpd.
USDA is still closed due to the shutdown, as traders are looking for between 1.1 to 2.1 MMT corn sold in the week ending on October 23.
Estimates for the Brazilian crop from Rabobank show the Brazilian corn crop at 137 MMT for 2025/26.
Dec 25 Corn closed at $4.34, up 2 cents, currently up 1/4 cents
Nearby Cash was $3.95 1/2, up 3 cents,
Mar 26 Corn closed at $4.46 3/4, up 3/4 cent, currently down 1/2 cents
May 26 Corn closed at $4.55, unch, currently down 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.
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