Corn futures posted gains of 2 to 4 ½ cents on Wednesday, driven by solid demand supported by record ethanol production and strong exports. The CmdtyView national average Cash Corn price rose by 4 cents to $3.96 ¾.
This morning, the USDA reported a private export sale of 177,055 metric tons (MT) of corn to Mexico. Meanwhile, a South Korean importer purchased a total of 268,000 MT of corn in an overnight tender.
EIA data released today showed another record ethanol corn grind for the week ending December 12. Production increased by 26,000 barrels per day (bpd) week-over-week to 1.131 million bpd. Despite the increased output, ethanol stocks saw a drawdown of 157,000 barrels, falling to 22.353 million barrels.
Ethanol exports also rose, up 66,000 bpd to 191,000 bpd, while refiner inputs of ethanol increased by 55,000 barrels per day from the prior week to 906,000 bpd.
Commitment of Traders (COT) data as of December 2 showed speculative funds adding back 34,142 contracts to the long side during that week, mainly through short covering. This shift flipped their net position to a long stance in corn futures and options, totaling 23,270 contracts as of that date.
In Brazil, December corn exports are estimated at 6.35 million metric tons (MMT) according to ANEC, marking a slight increase of 0.05 MMT from the previous week.
Corn futures settlement prices were as follows:
– March 2026 Corn closed at $4.40 ½, up 4 cents
– Nearby Cash closed at $3.96 ¾, up 4 cents
– May 2026 Corn closed at $4.47 ¾, up 3 ¼ cents
– July 2026 Corn closed at $4.53 ½, up 2 ½ cents
Please note, on the date of publication, Austin Schroeder did not hold positions—directly or indirectly—in any of the securities mentioned in this article. All information and data presented herein are for informational purposes only.
For additional insights, explore more news from Barchart including coverage on grain and cotton futures markets:
– Grain, Cotton Futures Markets Look Heavy. What Could Give Them a Lift This Week?
– Corn: Is the Tepid Rally Bearish?
– How Much Higher Can Corn Prices Go?
– Have Corn, Soybeans, and Winter Wheat Already Topped?
– What to Watch in the Week Ahead.
The views and opinions expressed are those of the author and do not necessarily reflect those of Nasdaq, Inc.
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https://www.nasdaq.com/articles/corn-closes-higher-wednesday-record-ethanol-production