The corn market was steady to a penny lower across most contracts on Wednesday, with December down 4 ¼ cents ahead of first notice day on Friday. The national average Cash Corn price from cmdtyView is down 3 3/4 cents at $3.92 1/2 per bu.
EIA data from this morning showed the record ethanol production number get bigger, up 6,000 barrels per day from the prior record and 9,000 bpd from last week at 1.119 million bpd. That did increase the stockpile of ethanol by 306,000 barrels to 22.869 million barrels. Refiner inputs backed off 2,000 barrels to 890,000 bpd, with exports up 14,000 bpd to 158,000 barrels per day.
Export Sales estimates ahead of Friday’s delayed report are calling for between 0.8 and 2 MMT in 2024/25 corn bookings for the week of 11/21, with 0-100,000 MT for 2025/26 sales.
Taiwan purchased a total of 65,000 MT of US wheat in a tender on Wednesday morning.
Dec 24 Corn closed at $4.15 3/4, down 4 1/4 cents,
Nearby Cash was $3.92 1/2, down 3 3/4 cents,
Mar 25 Corn closed at $4.28, unch,
May 25 Corn closed at $4.35 1/4, unch,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here. More news from Barchart- Corn Demand in Focus: What The Cash Market May Be Trying To Say
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