Corn Closes Lower Despite More Export Business

Corn price action is up 3 to 4 cents in early Thursday AM trade. Futures posted losses of 1 to 2 cents across most contracts to close out the Wednesday session. Preliminary open interest was down 5,812 contracts on Wednesday. The CmdtyView national average Cash Corn price was down 2 cents at $3.80 1/4.

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Export Sales data via the weekly report will be out this morning, with analysts looking for between 1 and 1.8 MMT of 2025/26 corn sales in the week of 9/18.

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EIA data from Wednesday morning showed total of 1.024 million barrels per day of ethanol production in the week of 9/19, a drop of 31,000 bpd in that week. Despite the drop in output, stocks were building by 866,000 barrels to 23.468 million barrels. Exports rose 9,000 bpd to 112,000 bpd, as refiner inputs of ethanol dropped 22,000 bpd to 900,000 bpd.\

A South Korean importer issued a tender for 140,000 MT of corn overnight, with offers due on Friday. Brazil’s September corn exports are estimated to total 7.61 MMT according to ANEC, which is a 0.49 MMT increase from their previous number.

Dec 25 Corn  closed at $4.24 1/4, down 2 cents, currently up 3 ¼ cents

Nearby Cash  was $3.80 1/4, down 2 cents,

Mar 26 Corn  closed at $4.41, down 2 cents, currently up 3 ¼ cents

May 26 Corn  closed at $4.50 1/4, down 2 cents, currently up 3 ½ 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. This article was originally published on Barchart.com

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