Corn Getting Spillover Help from Wheat

Corn futures are exhibiting some continued bear spreading on Wednesday, with July down ¼ cent forward of Friday’s choices expiration, as different contracts are up 4 to five cents. Help is coming from a rally within the wheat market. The entrance month CmdtyView nationwide common Money Corn value is down 1/4 cents at $4.08.

The weekly EIA report confirmed ethanol manufacturing dropping again by 11,000 barrels per day from the earlier report to 1.109 million barrels per day. Ethanol shares throughout the US have been again up 386,000 barrels to 24.12 million barrels. Ethanol exports have been up 12,000 barrels per day to 163,000 bpd, with refiner inputs of ethanol up 5,000 bpd to 910,000 bpd.

The markets will probably be closed on Thursday in observance of Juneteenth, with the federal government closed as effectively and experiences pushed again a day. Export Gross sales information will probably be out on Friday morning, with merchants in search of 600,000 MT to 1.2 MMT in corn bookings for 2024/25 within the week ending on June 12. New crop enterprise is seen at 0-200,000 MT.

Jul 25 Corn is at $4.31 1/4, down 1/4 cent,

Close by Money is at $4.08, down 1/4 cent,

Sep 25 Corn is at $4.28 1/4, up 4 1/2 cents,

Dec 25 Corn is at $4.43 1/2, up 4 3/4 cents,

New Crop Money is at $4.01 1/2, up 4 1/2 cents,

On the date of publication, Austin Schroeder didn’t have (both instantly or not directly) positions in any of the securities talked about on this article. All info and information on this article is solely for informational functions. This text was initially printed on Barchart.com