Corn Posts Midweek Gains

Corn futures posted Wednesday gains of 1 to 3 ¼ cents across most contracts at the close. The CmdtyView national average Cash Corn price was up another 4 cents at $3.96 3/4.

Due to the Veteran Day federal holiday on Tuesday, the weekly EIA report will be released on Thursday, a day behind normal schedule.Don’t Miss a Day: From crude oil to coffee, sign up free for Barchart’s best-in-class commodity analysis.

Ahead of the expected USDA Crop Production report on Friday, a Reuters poll of analysts showed corn yield expected to drop 2.7 bpa to 184 bpa, as production is seen at 16.557 bbu, a 257 mbu drop from the September report if realized. WASDE data will also be released, with corn ending stocks seen at 2.136 bbu, which would be a 26 mbu increase from the September report, as the September Grains Stocks data will be included with the higher than expected September 1 corn stocks.

Dec 25 Corn closed at $4.35 1/4, up 3 1/4 cents,

Nearby Cash was $3.96 3/4, up 4 cents,

Mar 26 Corn closed at $4.49 1/4, up 2 1/4 cents,

May 26 Corn closed at $4.57 1/4, up 1 1/4 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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