Corn prices are down 3 to 4 cents so far on Thursday morning. Futures kicked it into rally mode into Wednesday’s close, with contracts 5 ¼ to 7 ¼ higher on the day. Preliminary open interest was up 1,613 contracts on Wednesday, with the exodus of July continuing, down 30,977 contracts. The CmdtyView national average Cash Corn price was up 6 3/4 cents at $3.90. The market will round out the week today, with Friday off in observance of Juneteenth.
EIA’s weekly update showed a total of 1.102 million barrels per day of ethanol production in the week of June 12, down 6,000 bpd from the week prior. Ethanol stocks were up just 22,000 barrels to 24.474 million barrels. Ethanol exports were back down 27,000 bpd to 128,000 bpd, with refiner inputs of ethanol up 13,000 bpd to 920,000 bpd.
The weekly USDA Export Sales report indicated 0.7-1.4 MMT of 2025/26 corn sold in the week ending on 6/11. New crop business is seen in a range of 0.4-1.2 MMT, per a Reuters survey of traders.
Jul 26 Corn closed at $4.21, up 7 1/4 cents, currently down 3 3/4 cents
Nearby Cash was $3.90 1/1, up 6 3/4 cents,
Sep 26 Corn closed at $4.29 1/2, up 7 cents, currently down 3 3/4 cents
Dec 26 Corn closed at $4.48 3/4, up 6 1/4 cents, currently down 4 cents
New Crop Cash was $4.03 1/8, up 5 1/4 cents,
.jpeg?w=600)
