Corn Back to Positive Trade on Thursday Morning

Corn with green husk via Say-Cheese via iStock

Corn price action is hovering just above unchanged on Thursday morning, with gains of 1 to 2 cents. Futures failed to see much excitement following the US/Japan trade announcement, as contracts were heavy for much of the session and closing with fractional to penny losses. Preliminary open interest rose 13,678 contracts, suggesting modest selling interest. The CmdtyView national average new crop Cash Corn price was down 1/2 cent at $3.75. 

EIA data showed a total of 1.078 million barrels per day of ethanol production in the week ending on July 18. That was a decline of 9,000 bpd from the week prior. Stocks were up 809,000 barrels to 24.444 million on the week. 

Export Sales data is estimated to show between 100,000 and 800,000 MT of old crop corn sold in the week ending on July 17, with new crop sales pegged in a range of 400,000 to 800,000 MT. The report will be out on Thursday morning.

Another round of tenders by South Korean importers saw an estimated at least 200,000 MT.

Sep 25 Corn is at $3.98 1/2, down 3/4 cent, currently up 1 1/4 cents

Nearby Cash is at $3.85 1/2, down 1 cents,

Dec 25 Corn is at $4.17 1/2, down 1/2 cent, currently up 1 cent

Mar 26 Corn is at $4.34 3/4, down 1 cent, currently up 1 3/4 cents

New Crop Cash is at $3.75, down 1/2 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.