Corn Showing Midday Weakness, as Brazil Production Gets a CONAB Hike

Corn futures are shrugging off an early attempt to post midday gains, as contracts are down 2 to 3 cents so far. The CmdtyView national average Cash Corn price is down 2 1/4 cents at $4.39. 

EIA data from this morning showed ethanol production in the week of October 8 at 1.065 million barrels per day, up 12,000 bpd on the week. Ethanol stocks were up 199,000 barrels to 23.942 million barrels. Refiner inputs were up 2,000 bpd to 899,000 bpd, as exports of ethanol slipped back by 45,000 bpd to 121,000 bpd.

CONAB data from this morning showed the 2026/27 corn crop at 148 MMT, up 2.4% from a year ago if realized. The first crop is taking up a larger part of the increase, up 8.9% to 32.1 MMT. Much of that was via a 10.72% jump in acreage.

Dec 26 Corn is at $4.78 1/2, down 2 1/4 cents,

Nearby Cash is at $4.39 1/1, down 2 1/4 cents,

Mar 27 Corn is at $4.92 1/4, down 2 cents,

May 27 Corn is at $4.99 3/4, down 2 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 is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.