Corn Weakness Continuing At Midday Despite Export Business

Austin Schroeder Barchart Wed Oct 30, 12:07PM CDT
Partially husked corn - by Couleur via Pixabay

Corn futures are trading with 1 to 2 cent losses so far on Wednesday after mixed early action. The average close for December corn futures so far in October has been $4.17. That is 49 cents below the February base insurance price. The national average Cash Corn price from cmdtyView is down 1 1/2 cents at $3.80 per bu. 

USDA reported private export sales of 273,048 MT during the ‘reporting period’ this morning, all to unknown destinations for 2024/25 shipment. 

EIA data from this morning showed ethanol production improving by 1,000 barrels per day in the week of 10/25 to 1.082 million bpd. Stocks of ethanol saw a draw of 452,000 barrels to 21.771 million barrels, which was the lowest in 11 months. Ethanol exports were down 46,000 bpd from the week prior at 60,000 bpd, with refiner inputs rising 7,000 bpd to 922,000 bpd.

Export Sales data is expected to total 1.8 to 3.5 MMT for 2024/25 sales in the week that ended on October 24. Sales for 2025/26 are seen in a range of 0-500,000 MT.  

Dec 24 Corn is at $4.12, down 1 3/4 cents,

Nearby Cash is at $3.80, down 1 1/2 cents,

Mar 25 Corn is at $4.26, down 1 cent,

May 25 Corn is at $4.34, down 1 cent,


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.