Corn prices are trading with gains of 2 to 3 cents so far on Thursday morning. Futures closed the Wednesday session with contracts steady to 3 cents higher across the board. Preliminary open interest rose 19,894 contracts, indicating new buying. The national average Cash Corn price from cmdtyView was up 3 cents at $3.86 per bu.
The average close for December corn futures so far in October is $4.17. That is 49 cents below the February base insurance price.
Export Sales data will be released this morning, with a Reuters survey of traders looking for a range of 2.2-3.3 MMT of corn sold for 2024/25 and 500,000 to 850,000 MT sold for 2025/26 in the week that ended on October 17.
The weekly EIA Petroleum Status report showed ethanol production totaling 1.081 million barrels per day during the week of 10/23, up 39,000 bpd from the week prior. Stocks were back down 52,000 barrels to 22.223 million barrels. Refiner inputs of ethanol totaled 915,000 bpd in that week, up 3,000 bpd from the week prior. Gasoline product supplied in that week was at 8.838 million barrels per day, which was an increase from the week prior.Â
Dec 24 Corn  closed at $4.19, up 2 1/2 cents, currently up 2 1/2 cents
Nearby Cash  was $3.86, up 3 cents,
Mar 25 Corn  closed at $4.32, up 2 3/4 cents, currently up 2 1/4 cents
May 25 Corn  closed at $4.39 3/4, up 3 cents, currently up 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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