Corn futures saw gains of 2 to 3 cents in most contracts on Tuesday, with some deferred contracts steady to fractionally higher. The CmdtyView national average Cash Corn price was up 3 cents to $4.24. Crude oil finished the day with late pressure to close up just 26 cents, as reports surfaced of a potential 1-month ceasefire on the Middle East conflict.
EIA data will be released on Wednesday morning, with ethanol production seen steady to slightly higher in the week ending on 3/20.
Ukraine’s corn production is estimated at 31-32 MMT according to the country’s UAC Union, compared to the 31 MMT number from last year.
May 26 Corn closed at $4.62 1/2, up 3 cents,
Nearby Cash was $4.20 1/1, up 3 cents,
Jul 26 Corn closed at $4.72 1/2, up 2 cents,
Dec 26 Corn closed at $4.89, up 2 1/2 cents,
New Crop Cash was $4.46 1/8, up 2 1/2 cents,
