Corn price action is up 3 to 3 ½ cents in the nearbys so far on Wednesday morning. Futures closed out the Tuesday session on a mixed note, with front months up 1 ½ to 2 ¾ cents and other contracts fractionally lower. Open interest was up 19,559 contracts on Tuesday. The CmdtyView national average Cash Corn price was up 3 cents at $4.05.
On Tuesday morning, USDA reported private export sales of 316,000 MT to Mexico (65,000 for 2025/26, 139,000 MT for 2026/27, and 112,000 MT for 2027/28), with another 120,000 MT sold to unknown destinations for the current marketing year.
EIA will be out with their weekly petroleum status report later this morning, as traders are looking for US ethanol production in the week that ended on 4/10 to be steady to slightly lower vs. the previous week.
CONAB data from this morning showed the Brazilian corn crop raised by 1.3 MMT to 139.57 MMT. The second crop was hiked by 0.68 MMT to 109.12 MMT, as the first crop was up 0.62 MMT to 27.35 MMT.
May 26 Corn closed at $4.43, up 2 3/4 cents, currently up 3 1/2 cents
Nearby Cash was $4.05, up 3 cents,
Jul 26 Corn closed at $4.52 1/2, up 1 1/2 cents, currently up 3 1/4 cents
Dec 26 Corn closed at $4.70 1/2, down 1/2 cent, currently up 3 cents
New Crop Cash was $4.27 1/8, down 1/4 cent,
