Corn Bulls Post Gains on Wednesday

Austin Schroeder Barchart Wed Jul 16, 3:57PM CDT
A child eating an ear of corn - by vikvarga via Pixabay

Corn futures extended the strength on Wednesday, as contracts were 4 to 5 cents in the green at the final bell. The front month CmdtyView national average Cash Corn price was up 4 1/4 cents at $3.92 3/4. 

EIA data released this morning put average daily ethanol production at 1.087 million barrels per day during the week that ended on July 11, up 2,000 bpd the previous week. Ethanol stocks were down 324,000 barrels to 23.635 million barrels. That was despite exports slipping 27,000 bpd to 94,000 bpd, with refiner inputs slipping 22,000 bpd to 880,000 bpd.

Export Sales data will be released on Thursday morning, with the trade looking for old crop bookings in a range of 0.5 to 1.2 MMT. New crop sales are seen in a range of 400,000-900,000 MT. 

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

Nearby Cash  was $3.92 3/4, up 4 1/4 cents,

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

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

New Crop Cash  was $3.82 1/1, up 4 3/4 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.