Corn Market Sees Gains as Ethanol Production Holds Strong

The corn market rebounded from early declines on Wednesday, finishing the day with contracts rising by 1 1/4 to 3 cents. Near-record ethanol production and a positive influence from the wheat market contributed to this uptick. The national average Cash Corn price, according to cmdtyView, climbed 3 cents to $4.07 3/4 per bushel.

Ethanol Production Remains Robust

Data from the EIA released this morning indicated a slight decrease in ethanol production for the week ending November 15. Production dipped by 3,000 barrels per day to 1.11 million bpd, which, while less than the previous week’s record, remains the second highest weekly production total ever recorded. Additionally, ethanol stocks increased by 524,000 barrels, reaching 22.563 million barrels. Ethanol exports remained stable at 144,000 barrels per day, while refiner inputs fell by 17,000 bpd to 892,000 bpd.

Looking Ahead: Export Sales Data

Analysts anticipate updates on export sales data on Thursday morning. Estimates suggest that between 1 to 2.2 million metric tons (MMT) of corn for the 2024/25 season may have been sold during the week ending November 14. For the 2025/26 season, sales are expected to range from 0 to 100,000 metric tons.

Current Market Prices

Dec 24 Corn closed at $4.30 1/4, up 3 cents.

Nearby Cash was recorded at $4.07 3/4, also up 3 cents.

Mar 25 Corn closed at $4.40, up 2 1/4 cents.

May 25 Corn reached $4.47, rising 1 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 are for informational purposes only. For more details, please view the Barchart Disclosure Policy here.

The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.