Corn futures are trading with Wednesday gains, following spillover strength in the wheat and a weaker US Dollar index this week. Futures are up 3 to 4 ¼ cents at midday. The CmdtyView national average Cash Corn price is up a 4 ½ cents at $3.944.
EIA data from this morning showed ethanol production slipping 5,000 barrels per day to 1.114 million bpd in the week of January 23. Stocks did see a draw of 339,000 barrels to 25.4 million barrels. Exports were down 61,000 bpd in that week to 157,000 bpd, with refiner inputs of ethanol rising 31,000 bpd to 883,000 bpd.
In a speech in Iowa on Tuesday, President Trump stated his support for E-15 availability year around and that he is trusting both House and Senate leaders to get legislation approved.
Export Sales data will be released on Thursday, with traders looking for 2025/26 corn bookings in the range of 1 to 2.5 MMT in the week of January 22. Sales for 2026/27 are seen in between 0 and 200,000 MT.
Mar 26 Corn is at $4.30 3/4, up 4 1/4 cents,
Nearby Cash is at $3.94, up 4 1/2 cents,
May 26 Corn is at $4.38 1/4, up 3 1/2 cents,
Jul 26 Corn is at $4.44 1/4, up 3 1/2 cents,
