Corn Bulls Trying to Shake the Bears on Wednesday

Austin Schroeder Barchart Wed Jul 16, 11:45AM CDT
Ear of corn - by Couleur via Pixabay__480x320

Corn futures prices are 3 to 4 cents higher at midday on Wednesday.  While not exactly in control, bulls are at least making the shorts nervous with an aggressive bounce off of Monday’s life of contract lows. Preliminary open interest suggested some light short covering on Tuesday, dropping 21,565 contracts on higher price action. The CmdtyView national average Cash Corn price for new crop (2025 production) is up 5 ½ cents this morning at  $3.83 1/2. 

Brazil corn exports are expected to total 4.3 MMT in July according to ANEC, a 0.26 MMT increase from their prior number and above the 3.55 MMT from last year.

EIA data released late this morning put average daily ethanol production at 1.087 million barrels per day, up from 1.085 million the previous week. Traders had been looking for a steady ethanol production number during the week that ended on July 11.

Sep 25 Corn is at $4.05 1/4, up 4 cents,

Nearby Cash is at $3.92 3/4, up 4 cents,

Dec 25 Corn is at $4.24, up 4 1/4 cents,

Mar 26 Corn is at $4.41, up 4 1/4 cents,

New Crop Cash is at $3.82 3/4, up 4 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. For more information please view the Barchart Disclosure Policy here.