Corn Fades Lower into Thursday’s Close to Settle Near the Lows

Corn futures settled Thursday near the session lows, as contracts were down 4 ¼ to 7 ½ cents on the day, failing to catch many buyers. The CmdtyView national average Cash Corn price was down 6 cents at $4.09 1/4. 

EIA’s weekly update showed ethanol production at a total of 1.13 million barrels per day in the week of 11/6, a 13,000 bpd drop from the week prior. Ethanol stocks were down 89,000 barrels to 24.345 million barrels. Refiner inputs of ethanol were down 11,000 barrels per day on the week to 888,000 bpd, with ethanol export dropping back 7,000 bpd in that week to 140,000 bpd.

Export Sales data will be pushed back to Friday due to the Wednesday Veterans Day federal holiday. Traders surveyed by Reuters showed estimates for a total of 2-3 MMT of 2026/27 corn in the week ending on 11/5. Sales for 2027/28 are seen in a range of 600,000-800,000 MT.

CONAB estimates for Brazil corn production will be released on Friday morning, following the USDA raising their number by 2 MMT to 141 MMT on Tuesday. CONAB was 148 MMT last month.

Dec 26 Corn  closed at $4.42 1/2, down 5 1/2 cents,

Nearby Cash  was $4.09 1/4, down 6 cents,

Mar 27 Corn  closed at $4.54 3/4, down 5 1/2 cents,

May 27 Corn  closed at $4.62 3/4, down 5 1/2 cents,

Dec 27 Corn  closed at $4.78 1/2, down 7 1/2 cents,

New Crop Cash  was $4.40 3/8, down 9 cents,

On the date of publication, Austin Schroeder did not directly have a position 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.