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Corn futures saw a steady to 2-cent increase in prices on Wednesday, with December corn closing at $4.34 per bushel, a rise of 2 cents. The average Cash Corn price climbed 3 cents, reaching $3.95 1/2. As the harvest price discovery period for crop insurance concludes, December corn has an average October close of $4.21, which is 5 cents higher than last year but 49 cents lower than the spring price.
In the week ending October 24, the EIA reported ethanol production at 1.091 million barrels per day, down by 21,000 bpd from the previous week. Ethanol stocks increased by 448,000 barrels to 22.367 million barrels. Refiner inputs remained steady at 911,000 bpd, while exports rose by 45,000 bpd to 175,000 bpd. The USDA is currently closed due to a shutdown, with expectations of corn sales between 1.1 to 2.1 million metric tons for the same week.
Rabobank estimates the Brazilian corn crop for 2025/26 at 137 million metric tons.
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