Corn price action is showing contracts within a penny of unchanged across the nearby contracts. Futures posted losses of 1 to 2 ¾ cents in the front months, with deferred contracts steady to ¾ cent higher. Open interest was down 11,175 contracts on Wednesday, mostly in the July contract. July options expire on Friday, with FND on Monday. The CmdtyView national average Cash Corn price was down 1 3/4 cents at $3.78 1/4.
EIA’s weekly update showed a total of 1.09 million barrels per day of ethanol production in the week of June 19, down 12,000 bpd from the week prior. Ethanol stocks were up 111,000 barrels to 24.585 million barrels. Ethanol exports were down 5,000 bpd to 121,000 bpd, with refiner inputs of ethanol up 3,000 bpd to 923,000 bpd.
USDA’s Export Sales report will be updated this morning with traders surveyed by Reuters looking for old crop sales to be in a range of 0.5 to 1.3 MMT in the week ending on 6/18. New crop business is seen in a range of 0.3 to 1 MMT.
Jul 26 Corn closed at $4.07, down 2 3/4 cents, currently down 3/4 cent
Nearby Cash was $3.78 1/4, down 1 3/4 cents,
Sep 26 Corn closed at $4.15 3/4, down 2 cents, currently down 1/2 cent
Dec 26 Corn closed at $4.34 3/4, down 2 1/2 cents, currently up 1/4 cent
New Crop Cash was $3.90 3/8, down 2 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.
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