The corn market closed higher across most contracts on Wednesday, with prices gaining 1 to 2 ¼ cents, as a rebound in ethanol production by 76,000 bpd and tightening ethanol stocks provided support. While official U.S. export sales data was delayed due to a government shutdown, ANEC estimated Brazilian corn exports at 6 MMT for October, indicating potential international competition.
The corn market closed with gains across most contracts on Wednesday, with contracts 1 to 2 ¼ cents higher on the day. The CmdtyView national average Cash Corn price was up 2 ¾ cents at $3.80 1/2. The average close for December futures so far this month has been $4.20. EIA data from this morning showed a total of 1.071 million barrels per day of ethanol production in the week ending on 10/3. That was a rebound of 76,000 bpd on the week. Stocks were still tightening, down 44,000 barrels to 22.72 million barrels. Ethanol exports were up 50,000 barrels to 138,000 bpd, as refiner inputs of ethanol were down 13,000 bpd to 892,000 bpd. Export Sales data will not be reported on Thursday due to the government shutdown, though traders surveyed by Reuters were looking for 1.2-2 MMT of corn sold in the week of 10/2. ANEC estimates the Brazilian corn exports at 6 MMT for October, which would be an increase over the 5.67 MMT in October 2024. Dec 25 Corn closed at $4.22, up 2 1/4 cents, Nearby Cash was $3.80 1/2, up 2 3/4 cents, Mar 26 Corn closed at $4.37 3/4, up 1 1/2 cents, May 26 Corn closed at $4.46 1/4, up 1 cent, 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. More news from Barchart - Corn, Soybean Bulls Had One Foot in the Grave Last Week. What to Watch Next. - Grains Are Wobbling, So Mark Your Calendars for September 30 - Harvest Pressure Looms on Grain Futures Markets. Here’s Why You Need to ‘Eat Your Wheaties’ Here. - Corn, Soybean Markets See ‘Sell the Rumor, Buy the Fact’ on USDA Data The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Corn futures saw broad gains, rising 1 to 2 ¼ cents, with cash corn also increasing by 2 ¾ cents to $3.80 1/2. This uptrend was primarily driven by encouraging EIA ethanol data, which showed a significant rebound in production of 76,000 bpd to 1.071 million bpd for the week ending October 3rd. Simultaneously, ethanol stocks tightened by 44,000 barrels, reaching 22.72 million barrels, signaling robust demand. Further supporting demand, ethanol exports increased by 50,000 bpd to 138,000 bpd, despite a slight 13,000 bpd dip in refiner inputs. A key uncertainty remains the delayed U.S. export sales data due to the government shutdown, though traders surveyed by Reuters had anticipated substantial sales of 1.2-2 MMT for the week of October 2nd. On the supply side, ANEC projects Brazilian corn exports to reach 6 MMT in October, an increase from 5.67 MMT in October 2024, indicating growing international supply competition. Despite this, the overall market tone is moderately positive and bullish, with front-month December 2025 corn closing higher at $4.22, reflecting the immediate support from ethanol market dynamics.
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