Corn Futures Surge Amid Mixed Economic Signals

Cash Corn Price Increases as U.S. Ethanol Production Declines

Corn futures experienced a notable increase on Wednesday, with contract prices rising between 5 to 12 cents. Specifically, the national average Cash Corn price from cmdtyView climbed by 11 1/2 cents, reaching $4.61 1/4. Notably, Mexico’s president expressed skepticism about impending U.S. tariffs, which President Trump suggested could take effect on February 1.

This morning’s EIA report revealed a drop in ethanol production, which fell 84,000 barrels per day to 1.015 million bpd for the week ending January 24. Meanwhile, ethanol stocks, that had recently been on the rise, decreased by 152,000 barrels, settling at 25.722 million barrels. The report also indicated that refiner inputs for ethanol increased by 4,000 barrels, totaling 832,000 bpd.

Traders are anticipating the USDA’s Export Sales report, set to be released tomorrow morning. Analysts expect it to show between 0.85 to 1.8 MMT of corn sold for the 2024/25 season during the week ending January 23.

Mar 25 Corn closed at $4.97, recording an increase of 11 3/4 cents.

Nearby Cash registered at $4.61 1/4, up 11 1/2 cents.

May 25 Corn finished at $5.07 1/2, up 11 1/2 cents.

Dec 25 Corn closed at $4.66 3/4, an uptick of 5 3/4 cents.

New Crop Cash was priced at $4.37 1/1, also reflecting a rise of 5 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 intended solely for informational purposes. For more information, please view the Barchart Disclosure Policy here.

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