Corn Futures Decline Slightly Amid Economic Shifts and Production Data

Corn futures ended the midweek session with some contracts declining by as much as 4 cents for nearby months. The CmdtyView national average cash corn price fell 3 3/4 cents, settling at $4.27 1/2.

Trade Tariffs Affecting Market Dynamics

President Trump has announced “Liberation Day” tariffs, excluding both Mexico and Canada, while maintaining exemptions for all USMCA-compliant goods. New reciprocal tariffs will set rates at 24% for Japan, 25% for South Korea, and a baseline of 10% for Colombia, effective April 9.

Ethanol Production Trends

Recent data from the Weekly EIA showed a 10,000 barrels per day increase in ethanol production for the week ending March 28, bringing the total output to 1.063 million bpd. However, stocks decreased by 738,000 barrels, resulting in a total of 26.612 million barrels. Refiner inputs of ethanol rose by 20,000 bpd, reaching 898,000 bpd, while exports fell to the lowest level since last July at 62,000 bpd.

Upcoming Export Sales Data

The upcoming Export Sales data, scheduled for release Thursday morning, is anticipated to report corn bookings for the 2024/25 marketing year between 0.8 and 1.6 million metric tons (MMT). New crop estimates are set in the middle range of 0-100,000 MT.

Current Corn Futures Prices

May 25 Corn closed at $4.57 3/4, down 4 cents.

Nearby Cash was priced at $4.27 1/2, down 3 3/4 cents.

Jul 25 Corn closed at $4.65 1/4, a decrease of 3 cents.

Dec 25 Corn ended at $4.48 3/4, down 3/4 cent.

New Crop Cash was $4.12 5/8, down 3/4 cent.

On the date of publication, Austin Schroeder did not hold (either directly or indirectly) any positions in the securities mentioned in this article. All information and data in this article are provided solely for informational purposes. For more details, please view the Barchart Disclosure Policy
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The views and opinions expressed herein are those of the author and do not necessarily represent those of Nasdaq, Inc.