Corn May '27 (ZCK27)
Corn Futures Market News and Commentary
Corn futures are bouncing off the early session lows with contracts down 3 to 5 cents at midday. The CmdtyView national average Cash Corn price is down 2 3/4 cents at $4.07 ¾. Crude oil is down $18.32 at midday following a 2-week ceasefire between Iran and the US that includes the reopening of the Strait of Hormuz. Traffic was limited overnight.
Ahead of the Thursday WASDE update, analysts surveyed by Bloomberg are looking for a slight increase (3mbu) from March to 2.13 bbu for the US carryout projection. World ending stocks are seen 0.4 MMT higher to 293.2 MMT.
EIA data from this morning showed ethanol at a total of 1.116 million barrels per day in the week ending on 4/3. That was a 41,000 bpd increase on the week. Stocks saw a 62,000 barrel increase, to 26.053 million barrels. Exports were up 80,000 bpd to 203,000 bpd, as refiner inputs were down 8,000 bpd to 895,000 bpd.
Export Sales data will be released on Thursday, with analysts looking for 0.75-1.6 MMT in ol... Read more
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