Corn futures are experiencing a slight recovery from early session lows on Wednesday, although they are still showing losses of 2 to 3 cents by midday. The CmdtyView national average Cash Corn price has decreased by 3 3/4 cents, settling at $3.69 1/2.
This morning’s weekly EIA report revealed that ethanol production totaled 995,000 barrels per day for the week ending September 26. This figure marks a decline of 29,000 barrels per day from the previous week, contributing to a three-week total drop of 110,000 barrels per day. Additionally, ethanol stocks fell by 704,000 barrels, bringing the total to 22.764 million barrels.
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It’s important to note that export sales data will likely be postponed from the usual Thursday morning release this week due to the ongoing government shutdown.
Dec 25 Corn is currently priced at $4.12 3/4, down 2 3/4 cents.
Nearby Cash stands at $3.69 1/2, reflecting a decrease of 3 3/4 cents.
Mar 26 Corn is trading at $4.29 1/4, down 2 3/4 cents.
May 26 Corn is priced at $4.39, also down 2 3/4 cents.
On the date of publication,
Austin Schroeder
did not hold (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article are provided solely for informational purposes.
For more information, please view the Barchart Disclosure Policy
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The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
