Corn futures rallied to 3 year highs on Wednesday with contracts closing 10 to 13 ½ cents higher. Spillover strength in wheat and supply concerns over the US crop have both been supportive. The CmdtyView national average Cash Corn price was up another 13 1/2 cents at $4.85.
Export Sales data will be released on Thursday, with analysts looking for net reductions of 200,000 MT to net sales of 400,000 MT for 2025/26 sales in the week ending on August 20. New crop bookings are expected to be in a range of 0.6-1.6 MMT in that week.
EIA data from this morning showed a total of 1.112 million barrels per day in production, which was an increase of 23,000 bpd from the week prior. Stocks saw a modest build of 85,000 barrels to 25.2 million barrels. Refiner inputs were down a modest 3,000 barrels to 923,000 barrels, with exports up 33,000 barrels to 162,000 barrels.
Sep 26 Corn closed at $5.14, up 13 1/2 cents,
Nearby Cash was $4.85 0/1, up 13 1/2 cents,
Dec 26 Corn closed at $5.36 1/2, up 13 cents,
Mar 27 Corn closed at $5.50 3/4, up 12 1/4 cents,
New Crop Cash was $4.89 5/8, up 13 3/4 cents,
