Corn futures slipped off the intraday highs on Wednesday, still closing with fraction to 2 cent gains across the front months. The CmdtyView national average Cash Corn price was up 1/2 cent at $3.62.
USDA reported private export sales of 125,741 MT of corn to Mexico and 100,000 MT to Colombia this morning, all for 2025/26. Analysts estimate a total of 100,000 in net reduction to net sales of 300,000 MT for old crop ahead of the Thursday morning Export Sales report. New crop business is estimated to total between 0.9 and 2 MMT in the week ending on August 14.
Day 2 of the annual ProFarmer showed a Nebraska yield estimated at 179.5 bpa, up from 173.25 bpa last year and the 166.33 3-year average, but shy of their 2021 record. USDA is looking for a 4 bpa increase yr/yr. Yield in Indiana was estimated at 193.82 bpa, which is up 6.28 bpa from last year’s tour total and well 10.71 bpa above the 3-year average. USDA was looking for a 7 bpa increase from last year in last Tuesday’s report.
EIA data from this morning showed a total of 1.072 million barrels per day of ethanol production in the week of 8/15, which was down 21,000 bpd from the week prior and a 12 week low. Ethanol stocks were up 39,000 barrels to 22.688 million barrels. Exports were a 19-week high at 172,000 bpd, as refiner inputs were down 4,000 barrels to 925,000 barrels bpd.
The Buenos Aires Grains Exchange estimates the Argentina corn crop to be up 9.6% in acreage for 2025/26 to 7.8 million hectares (19.27 million acres).
Sep 25 Corn closed at $3.80, up 1/2 cent,
Nearby Cash was $3.62, up 1/2 cent,
Dec 25 Corn closed at $4.04, up 3/4 cent,
Mar 26 Corn closed at $4.22, up 1 1/4 cents,
New Crop Cash was $3.59 5/8, up 1/2 cent,
