Corn futures saw gains of 2 to 3 cents in most contracts on Tuesday, with some deferred contracts steady to fractionally higher. The CmdtyView national average Cash Corn price was up 3 cents to $4.24. Crude oil finished the day with late pressure to close up just 26 cents, as reports surfaced of a potential 1-month ceasefire on the Middle East conflict.
EIA data will be released on Wednesday morning, with ethanol production seen steady to slightly higher in the week ending on 3/20.
Ukraine’s corn production is estimated at 31-32 MMT according to the country’s UAC Union, compared to the 31 MMT number from last year.
May 26 Corn closed at $4.62 1/2, up 3 cents,
Nearby Cash was $4.20 1/1, up 3 cents,
Jul 26 Corn closed at $4.72 1/2, up 2 cents,
Dec 26 Corn closed at $4.89, up 2 1/2 cents,
New Crop Cash was $4.46 1/8, up 2 1/2 cents,
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.