Corn futures closed the Wednesday session with contracts down 18 to 20 ½ cents in through next July, with deferreds up 4 to 11 ½ cents. Spillover gains from wheat and increasing Black Sea strikes was supportive. The CmdtyView national average Cash Corn price was 20 1/4 cents higher at $4.27 1/4.
This morning’s Crop Production report from NASS showed yield at 180.7 bpa, with planted acreage raised by 1.4 million acres from the June report to 96.7 million acres, with harvested up 1.2 to 88.6 million acres. FSA data showed prevent plant acres for corn at 1.355 million acres. Production was tallied at 16.013 bbu, which was 13 mbu above the July WASDE number and nearly 80 mbu above estimates.
Per WASDE data, ending stocks for 2025/26 were down 75 mbu from last month on an increase to exports at 1.945 bbu. New crop stocks were pegged at 1.653 bbu due to the lower carryover and increased new crop export potential. World ending stocks were down 0.6 MMT for the new crop estimates at 274.66 MMT. Production for 2025/26 Brazil was up 2 MMT to 140 MMT. Argentina was left at 63 MMT, though the Rosario Grains Exchange raised their projection by 2.5 MMT to 70.5 MMT, with 2026/27 at 66 MMT.
EIA data was released this morning, with ethanol production tallied at 1.117 million barrels per day in the week of August 7, up 10,000 bpd from the previous week. Stocks were tallied at 24.798 million barrels, up 274,000 barrels from the week prior.
Export Sales data will be released on Thursday, with traders looking for between net cancellations of 100,000 MT to sales of 400,000 MT on old crop corn business in the week of August 6. New crop sales are seen between 0.8-1.4 MMT.
Storms across parts of the I-states and OH on Tuesday brought some flash flooding, with some heavy localized rains. There were also strong winds reaching the high 90s with the NWS Storm Prediction Center indicating preliminary indicators suggest a derecho from eastern IA to northern IN. The extent of any actual damage is so far unknown.
Sep 26 Corn closed at $4.57, up 20 1/4 cents,
Nearby Cash was $4.27 1/4, up 20 1/4 cents,
Dec 26 Corn closed at $4.80 3/4, up 20 1/4 cents,
Mar 27 Corn closed at $4.96 1/2, up 20 1/2 cents,
New Crop Cash was $4.31 3/8, up 20 1/2 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.
/Sign%20of%20Intel%20at%20entrance%20%20by%20michaelmond.jpeg)
/NVIDIA%20Corp%20logo%20outside%20building-by%20BING-JHEN_HONG%20via%20iStock.jpg)
