Corn Futures Show Steady Gains as Ethanol Production Rises
Corn futures concluded the first trading session of 2025 with increases ranging from 1 to 2 ¾ cents. According to cmdtyView, the national average cash corn price ticked up by 1 3/4 cents, reaching $4.31 1/4.
Ethanol Production and Stocks Update
The delayed weekly EIA report revealed that ethanol production averaged 1.111 million barrels per day during the week ending December 27. This marks a modest increase of 4,000 bpd compared to the previous week. Meanwhile, ethanol stocks inched higher by 565,000 barrels to a total of 23.639 million barrels. However, exports saw a decline, falling 67,000 bpd to 99,000 barrels per day, while refiner inputs dropped 61,000 bpd to settle at 859,000 bpd.
Monthly Grain Crushing Data Released
Afternoon data on monthly grain crushing indicated that the November grind reached 464.94 million bushels (mbu), representing a 0.4% decrease from October (with October’s figures revised up by 6 mbu). In contrast, this figure is up 1.7% from the same time last year. The first quarter corn grind saw a notable increase, climbing 2.29% from 2023 to 1.38 billion bushels (bbu).
Upcoming Export Sales Data
On Friday morning, export sales data will be unveiled. Analysts anticipate corn bookings for the marketing year 2024/25 to range between 0.8 and 1.4 million metric tons (MMT) for the week ending December 26, with projections of 0-50,000 metric tons for sales in 2025/26.
Brazil’s Corn Crop Estimates Adjusted
According to StoneX, the estimated corn crop in Brazil for 2024/25 has been adjusted to 128.6 MMT, representing a slight uptick of 0.3 MMT from previous forecasts.
Current Corn Prices
Mar 25 Corn closed at $4.59 1/2, up 1 cent.
Nearby Cash was recorded at $4.31 1/4, increasing by 1 3/4 cents.
May 25 Corn finished at $4.67 1/4, gaining 1 1/2 cents.
Jul 25 Corn closed at $4.70 1/4, also up 1 1/2 cents.
On the date of publication, Austin Schroeder did not hold any positions, directly or indirectly, in any of the securities mentioned in this article. All information and data provided are for informational purposes only. Please refer to the Barchart Disclosure Policy for more details.
The views expressed in this article are those of the author and do not necessarily reflect the views of Nasdaq, Inc.
