Corn prices are showing fractional to penny gains so far on Wednesday. Futures were hit with Turnaround Tuesday weakness, as contracts fell 3 to 4 cents in the nearbys. Light new selling interest was noted, with preliminary OI up 1,883 contracts. The CmdtyView national average Cash Corn price was down 3 cents on Tuesday at $3.79 1/2.
The average close for December corn futures was left at $4.19 with the Tuesday close included. With just 8 trade days left to find the harvest crop insurance price that remains above the $4.16 from last year’s fall price and below the $4.70 from the spring.
EIA data will be released this morning with traders looking for ethanol production to hold near steady after last week’s strong output number.
Brazil corn exports in October are estimated at 6.57 MMT according to ANEC, a 0.11 MMT increase from their prior number. Datagro estimates the Brazilian corn ethanol production to grow between 3-3.5 billion liters (792-925 million gallons) in 2026/27. Imports of ethanol are expected to increase in 2025/26.
Dec 25 Corn closed at $4.19 3/4, down 3 1/2 cents, currently up 1 cent
Nearby Cash was $3.79 1/2, down 3 cents,
Mar 26 Corn closed at $4.33 3/4, down 3 1/4 cents, currently up 3/4 cent
May 26 Corn closed at $4.41 3/4, down 3 1/2 cents, currently up 3/4 cent
