Corn futures are falling nearly 2/3 of the daily limit on Wednesday’s midday, with contracts down 18 to 20 1/4 cents following USDA’s quarterly stocks report. The CmdtyView national average Cash Corn price is down 20 cents at $4.59 1/2.
The quarterly Grain Stocks report from NASS showed September 1 stocks of corn at 2.095 billion bushels. That was well above the 1.551 bbu from last year, and 173 mbu higher vs. the WASDE estimate for 2025/26 US corn ending stocks and 184 mbu above estimates.
EIA data from this morning showed ethanol production in the week of September 25 at 1.0007 million barrels per day, dropping seasonally by 21,000 bpd on the week. Ethanol stocks saw another seasonal drawdown of 818,000 barrels to 23.865 million barrels.
Brazilian corn exports in September are expected to total 5.4 MMT according to ANEC, which is down 0.57 MMT from the previous number.
Dec 26 Corn is at $5.01 3/4, down 20 1/4 cents,
Nearby Cash is at $4.59 1/2, down 20 cents,
Mar 27 Corn is at $5.16 1/2, down 19 1/2 cents,
May 27 Corn is at $5.24 1/4, down 18 3/4 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.
