Corn price action is up 1 to 2 cents so far on Thursday morning. Futures posted losses of 2 to 3 cents across most contracts on Wednesday. Preliminary open interest was down 16,636 contracts on Wednesday. The CmdtyView national average Cash Corn price was down 3 1/2 cents to $4.02 1/4.
Export Sales data for the week of February 26 will be released this morning, with analysts looking for old crop corn sales at 0.6-1.6 MMT. New crop business is estimated to total 0-100,000 MT according to a Reuters survey, though we did get a private export sale of 154,000 MT of 2026/27 corn to Japan last Thursday.
EIA reported ethanol production at 1.095 million barrels per day in the week ending on February 27, down 18,000 bpd during that week. Stocks of ethanol were up 691,000 barrels to 26.337 million barrels. Exports were up 76,000 bpd in that week to 217,000 bpd, with refiner inputs down 2,000 bpd to 864,000 bpd.
Mar 26 Corn closed at $4.31 3/4, down 2 1/2 cents, currently up 2 cents
Nearby Cash was $4.02 1/4, down 3 1/2 cents,
May 26 Corn closed at $4.43 3/4, down 2 3/4 cents, currently up 1 3/4 cents
Jul 26 Corn closed at $4.53 1/2, down 2 cents, currently up 2 cents
