Corn futures were hit with Turnaround Tuesday weakness, as contracts fell 3 to 4 cents in the nearbys. The CmdtyView national average Cash Corn price was down 3 cents on Tuesday at $3.79 1/2.
The average close for December corn futures was left at $4.19 with the Tuesday close included. With just 8 trade days left to find the harvest crop insurance price that remains above the $4.16 from last year’s fall price and below the $4.70 from the spring.
EIA tat will be released on Wednesday morning with traders looking for ethanol production to hold near steady after last week’s strong output number.
A South Korean importer purchased a total of 67,000 MT of corn in a tender overnight. Brazil corn exports in October are estimated at 6.57 MMT according to ANEC, a 0.11 MMT increase from their prior number. Datagro estimates the Brazilian corn ethanol production to grow between 3-3.5 billion liters (792-925 million gallons) in 2026/27. Imports of ethanol are expected to increase in 2025/26.
Dec 25 Corn closed at $4.19 3/4, down 3 1/2 cents,
Nearby Cash was $3.79 1/2, down 3 cents,
Mar 26 Corn closed at $4.33 3/4, down 3 1/4 cents,
May 26 Corn closed at $4.41 3/4, down 3 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. This article was originally published on Barchart.com
