Corn price action is down 1 to 2 cents early on Thursday. Futures were down 2 ¾ to 7 ¾ cents across most contracts on Wednesday, led by the front months. Open interest suggested a rotation of ownership, up just 47 contracts. The CmdtyView national average Cash Corn price was down 7 1/2 cents at $4.84. Traders were taking some risk off ahead of the meeting between US and Chinese leaders on Thursday.
USDA reported a private export sale of 100,000 MT of 2026/27 corn to Mexico on Wednesday morning. Export Sales data will be out on Thursday, with traders looking for 0.8-1.4 MMT of 2026/27 corn bookings in the week of 9/17.
EIA data from this week showed ethanol production in the week of September 18 at 1.028 million barrels per day, dropping seasonally by 71,000 bpd on the week. Ethanol stocks saw a draw down of 537,000 barrels to 25.683 million barrels.
Coceral estimates the EU and UK corn crop at 48.6 MMT for 2026, a drop of 4.1 MMT from their previous number.
Dec 26 Corn closed at $5.29, down 7 3/4 cents, currently down 1 1/4 cents
Nearby Cash was $4.84 1/1, down 7 1/2 cents,
Mar 27 Corn closed at $5.43 1/2, down 7 1/2 cents, currently down 1 1/2 cents
May 27 Corn closed at $5.50 3/4, down 7 cents, currently down 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.
