The corn market is trading with Wednesday fractional midday gains in the new crop to 4 cents higher in the nearbys. The national average Cash Corn price from cmdtyView was down 2 ¼ cents at $4.40.
Weekly EIA data showed ethanol production at a total of 1.095 million barrel per day in the week of 1/10, a drop of 7,000 bpd in that week. Stocks continue to build, up another 860,000 barrels to 25.008 million barrels. Exports were down 30,000 bpd wk/wk, at 125,000 barrels per day. Refiner inputs of ethanol were back up 50,000 barrels per day at 829,000 bpd.
Taiwan purchased a total of 65,000 MT of corn in a tender overnight, with US the likely origin.
Mar 25 Corn is at $4.78 1/2, up 4 cents,
Nearby Cash is at $4.44 1/1, up 4 cents,
May 25 Corn is at $4.88, up 3 1/4 cents,
Dec 25 Corn is at $4.57, up 1/4 cent,
New Crop Cash is at $4.28, up 1 cents,
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- The USDA’s Big Surprise: How Crop Reductions Will Likely Impact Grain Prices
- Grains and Oilseeds in Q4 and 2024- Where are they Heading in 2025?
- New Year, New Challenges: Taking A Look At What's Impacting Grain Prices
- Is Cotton Going Higher in 2025?
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
