Corn futures felt pressure from soybean spillover weakness on Wednesday, as contracts were down 3 ¼ to 6 ¼ cents at the close. The national average Cash Corn price from cmdtyView was down 6 cents at $4.08 1/4.
The USDA reported a private export sale of 135,000 MT of corn to Columbia this morning for 2024/25 shipment.
EIA reported ethanol production totaling 1.103 million barrels per day in the week ending on December 13, a 25,000 bpd increase from the week prior. Ethanol stocks were down 12,000 barrels to 22.636 million barrels as of last Friday. Exports in that week totaled 163,000 barrels per day, a 40,000 bpd increase, as refiner inputs were up 20,000 bpd to 903,000 bpd.
Export Sales data will be released on Thursday morning, with estimates of 0.8 to 1.6 MMT for 2024/25 corn sales, with 0-100,000 MT for 2025/26 sales.
Mar 25 Corn closed at $4.37 1/4, down 6 1/4 cents,
Nearby Cash was $4.08 1/4, down 6 cents,
May 25 Corn closed at $4.43 3/4, down 6 1/4 cents,
Jul 25 Corn closed at $4.47 1/4, down 6 cents,
On the date of publication,
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.
More news from Barchart
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
