Corn price action is up 1 to 3 cents so far on Thursday morning. Futures got some spillover strength from gains in wheat and recent weakness in the US dollar index, as contracts closed with 1 ¼ to 3 ½ cent gains across the board. Preliminary open interest was up 20,796 contracts, suggesting new buying interest. The CmdtyView national average Cash Corn price was up 3 3/4 cents at $3.94 1/2.
EIA data from Wednesday morning showed ethanol production slipping 5,000 barrels per day to 1.114 million bpd in the week of January 23. Stocks did see a draw of 339,000 barrels to 25.4 million barrels. Exports were down 61,000 bpd in that week to 157,000 bpd, with refiner inputs of ethanol rising 31,000 bpd to 883,000 bpd.
Export Sales data will be released on Thursday, with traders looking for 2025/26 corn bookings in the range of 1 to 2.5 MMT in the week of January 22. Sales for 2026/27 are seen in between 0 and 200,000 MT.
Mar 26 Corn closed at $4.30, up 3 1/2 cents, currently up 2 1/2 cents
Nearby Cash was $3.94 1/2, up 3 3/4 cents,
May 26 Corn closed at $4.38, up 3 1/4 cents, currently up 2 1/4 cents
Jul 26 Corn closed at $4.44, up 3 1/4 cents, currently up 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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