Corn Closes Decrease on Wednesday, as Ethanol Shares | U.S. Finance Information
Corn price motion on Wednesday was decrease, as contracts had been down anyplace from fractionally in some contracts to three cents on the close. CmdtyView’s national average Money Corn price was down by a penny at $4.46.
President Trump indicated the potential tariffs on Mexico and Canada are will now go into impact on April 2, pushed back from the earlier March 4 deadline.
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The Wednesday morning EIA report indicated ethanol manufacturing down simply 3,000 barrels per day within the week that ended on February 21 at 1.081 million barrels per day. Shares noticed the biggest weekly construct since January 2023, up 1.353 million barrels to 27.571 million barrels. A lot of that construct got here by way of the Midwest, on the largest on document of 11.16 million barrels, with the Gulf up 540,000 barrels.
Weekly Export Gross sales knowledge shall be launched on Thursday morning, with merchants searching for 0.9-1.65 MMT in previous crop corn bookings during the week of 2/20. New crop gross sales are estimated at 0-100,000 MT.
USDA will release their initial outlook for the 2025 corn crop on Thursday by way of their Outlook Discussion board. Analysts surveyed by Bloomberg estimate USDA to show 93.5 million planted corn acres, with all anticipating an increase from final yr’s 90.6 million acres (92-95.1 million acres).
A South Korean importer bought a complete of 68,000 MT of corn from the US in a tender in a single day.
Mar 25 Corn closed at $4.78 1/4, down 1 1/2 cents,
Close by Money was $4.46, down 1 cents,
Could 25 Corn closed at $4.93 1/2, down 3/4 cent,
Dec 25 Corn closed at $4.67, down 3 cents,
New Crop Money was $4.35 1/2, down 3 cents,
On the date of publication,
Austin Schroeder
didn’t have (both immediately or not directly) positions in any of the securities talked about on this article. All info and knowledge on this article is solely for informational functions. For more info please view the Barchart Disclosure Coverage
right here.
The views and opinions expressed herein are the views and opinions of the writer and don’t essentially replicate these of Nasdaq, Inc.
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