Corn futures soared to three-year highs on Wednesday, with contracts closing 10 to 13.5 cents higher, driven by spillover strength from wheat and supply concerns regarding U.S. crops. The CmdtyView national average Cash Corn price rose by 13.5 cents to $4.85 per bushel.
Export Sales data, to be released Thursday, is expected to show net reductions of 200,000 MT to net sales of 400,000 MT for 2025/26 sales for the week ending August 20, while new crop bookings are projected to range between 0.6-1.6 MMT.
In related EIA data, U.S. production increased by 23,000 barrels per day to 1.112 million bpd, with crude stocks up by 85,000 barrels to 25.2 million barrels. Refiner inputs decreased by 3,000 barrels to 923,000 barrels, while exports rose by 33,000 barrels to 162,000 barrels.
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