Corn Holding Gains on Thursday
The corn market is trading with 1 to 2 cent gains so far on Thursday. The CmdtyView national average Cash Corn price is up a penny at $4.66 1/2.
The weekly EIA report from this morning showed a total of 1.084 million barrels of ethanol production in the week of February 14. That was up 2,000 bpd in that week. Stocks were also on the rise, with a build of 526,000 barrels to 26.218 million barrels. Refiner inputs of ethanol were down 4,000 bpd to 850,000 bpd, with ethanol exports slipping 12,000 bpd to 138,000 bpd.
Export Sales data will be released on Friday morning due to Monday’s holiday, as analysts estimate 0.9 to 1.6 MMT in 2024/25 sales for the week ending on 2/13. New crop sales are expected to be 0-200,000 MT.
The International Grains Council trimmed their world corn production total by 3 MMT on Thursday morning, with consumption also decreasing and stocks up 3 MMT to 275 MMT.
Mar 25 Corn is at $4.98 1/2, up 1 cent,
Nearby Cash is at $4.66 1/2, up 1 cents,
May 25 Corn is at $5.13 1/4, up 1 cent,
Dec 25 Corn is at $4.78 1/2, up 2 cents,
New Crop Cash is at $4.47 1/1, 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.