Corn price action is down with fractional losses to kick off Wednesday trade. Futures closed out the Tuesday trade session with contracts up 2 1/2 to 4 1/2 cents cross the board. Preliminary open interest was up 2,036 contracts on Tuesday, mostly in May and beyond, as December was down 15 and March dropped 1,329 contracts. The CmdtyView national average Cash Corn price is up 2 1/4 cents at $3.80 1/4.
USDA reported a private export sale of 122,947 MT of corn to Mexico on Tuesday morning, with 100,593 MT for 2025/26 and 22,354 MT for 2026/27.
EIA data will be released this morning, with analysts looking for ethanol production to be steady to a slight bounce from the previous week’s drop.
After the Monday close, NASS reported the conditions slipping back by 1% to 66% gd/ex, as the Brugler500 was 2 points lower to 370. By state, IL and NE were up 3 points, with MN improving 4 and SD up 6. Deterioration was noted in IN and ND down 5, with IA and MO dropping 8, as OH slipped 1 point.
Dec 25 Corn closed at $4.26 1/4, up 4 1/2 cents, currently down ½ cent
Nearby Cash was $3.82 1/4, up 4 1/4 cents,
Mar 26 Corn closed at $4.43, up 4 1/4 cents, currently down ½ cent
May 26 Corn closed at $4.52 1/4, up 3 3/4 cents, currently down ¼ cent
