Corn futures are getting a spark to move higher on Wednesday with contracts up 5 to 7 cents at midday. There were 78 deliveries against July futures overnight. The front month CmdtyView national average Cash Corn price is up 6 1/4 cents at $3.98.  

The weekly EIA report from this morning showed 1.076 million barrels per day of ethanol in the week ending on June 27, down 5,000 bpd from the week prior. Ethanol stocks were down 287,000 barrels to 24.117 million barrels. Refiner inputs of ethanol were up 12,000 bpd to 925,000 bpd, with ethanol exports up 21,000 bpd to 131,000 bpd.

USDA’s Export Sales report will be released on Thursday morning, with traders looking for between 0.4 and 1 MMT of corn sold in the week of June 26. New crop is seen in a range of 500,000 to 900,000 MT.

Grain Crushing data showed a total of 449.44 mbu of corn used for ethanol production in May. That was a jump of 6.2% from April, but still down 1.31% from the same month in 2024. The total for the marketing year through the first 3 quarters is at 4.08 bbu, which is 11 mbu above the same period last year.

Jul 25 Corn is at $4.25, up 5 cents,

Nearby Cash is at $3.98, up 6 1/4 cents,

Sep 25 Corn is at $4.12 1/2, up 6 1/2 cents,

Dec 25 Corn is at $4.27 1/2, up 5 1/2 cents,

New Crop Cash is at $3.86 1/4, up 6 1/4 cents,