Corn Higher Ahead of the Weekend
Corn futures are getting a pre-weekend bounce after a week of losses, as futures are up 3 to 5 cents across most contracts.
Monthly Grain Crushings data showed a total of 442.35 mbu of corn used for ethanol production during June. That was a slight improvement over June 2023, but a drop of 2.9% from May.
Brazil’s total 2024/25 corn crop is estimated at 123.14 MMT according to StoneX, a slight increase from the 23/24 projection at 121.8 MMT. The firm also expects the US corn crop to average 182.3 bpa this year, with a crop size a 15.207 bbu.
Sep 24 Corn is at $3.86 1/4, up 4 1/4 cents,
Nearby Cash is at $3.76 1/1, up 3 3/4 cents,
Dec 24 Corn is at $4.03, up 4 1/2 cents,
Mar 25 Corn is at $4.20, up 4 3/4 cents,
New Crop Cash is at $3.67 1/1, up 4 3/4 cents,
On the date of publication, Alan Brugler 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.