After the long weekend, corn traded mostly on the lower side and closed about a cent lower on Tuesday. Technical selling pressured the market. Losses were limited by strong export demand. Last week’s export shipments were higher than the range of trade expectations and marketing year to date shipments are running 56% ahead of last year’s pace. In South American news, Brazil’s 1st crop corn harvest is estimated at 2% harvested and 2nd crop corn planting is estimated at 1% complete. China imported 2.7 MMT of corn in 2025 vs. 13.8 MMT in 2024 as the government slowed imports to support Chinese farmers. Lower feed demand also slowed imports.
In Wednesday’s session corn traded steady for the first part of the overnight session then climbed higher. But the market slowly fell lower throughout the day session and closed a couple of cents lower. Early gains were due to spillover support from the soybean market. Support also came from today’s USDA sales announcements of 150,000 MT of corn to Colombia and 195,000 MT of corn to unknown. Technical selling in the day session pulled corn lower. S&P Global estimates this spring’s planted corn acres at 95.0 million, down 3.8 million from last year (while soybean acres are expected to increase 3.3 million). CONAB estimates Brazil’s first crop corn harvest 4.4% complete and second crop corn planting at 0.8% complete.
Corn opened Thursday’s session higher and continued to trade with gains throughout the night. Trading was thin and directionless as corn only saw a 2-cent trading range. Strong demand continues to give corn support. Light support also spilled over from the higher wheat complex. Year-round E15 was not included in the CR spending bills that need to be approved by Jan 30. Instead, Congress is signaling a vote in making E15 year-round will likely come in Feb. If realized this could result in an increase in corn demand of over 2.8 BB. Some push back is coming from some Representatives that oppose biofuels.
Last week’s ethanol production was estimated at 1.12 million barrels, down 77,000 barrels from the previous week. Stocks were estimated at 25.74 million barrels, up 1.27 million barrels from the previous week. Weather was the main reason for the production slowdown and increase in stocks. Gas demand plunged to the bottom of the 5-year average.
March corn support is $4.10.
For the week, March corn was at $4.305 up 5.75 cents. May corn was at $4.38 up 6.0 cents.
Corn Weekly Comments January 23
Corn Weekly Comments January 23
After the long weekend, corn traded mostly on the lower side and closed about a cent lower on Tuesday. Technical selling pressured the market. Losses were limited by strong export demand. Last week’s export shipments were higher than the range of trade expectations and marketing year to date shipments are running 56% ahead of last year’s pace. In South American news, Brazil’s 1st crop corn harvest is estimated at 2% harvested and 2nd crop corn planting is estimated at 1% complete. China imported 2.7 MMT of corn in 2025 vs. 13.8 MMT in 2024 as the government slowed imports to support Chinese farmers. Lower feed demand also slowed imports.
In Wednesday’s session corn traded steady for the first part of the overnight session then climbed higher. But the market slowly fell lower throughout the day session and closed a couple of cents lower. Early gains were due to spillover support from the soybean market. Support also came from today’s USDA sales announcements of 150,000 MT of corn to Colombia and 195,000 MT of corn to unknown. Technical selling in the day session pulled corn lower. S&P Global estimates this spring’s planted corn acres at 95.0 million, down 3.8 million from last year (while soybean acres are expected to increase 3.3 million). CONAB estimates Brazil’s first crop corn harvest 4.4% complete and second crop corn planting at 0.8% complete.
Corn opened Thursday’s session higher and continued to trade with gains throughout the night. Trading was thin and directionless as corn only saw a 2-cent trading range. Strong demand continues to give corn support. Light support also spilled over from the higher wheat complex. Year-round E15 was not included in the CR spending bills that need to be approved by Jan 30. Instead, Congress is signaling a vote in making E15 year-round will likely come in Feb. If realized this could result in an increase in corn demand of over 2.8 BB. Some push back is coming from some Representatives that oppose biofuels.
Last week’s ethanol production was estimated at 1.12 million barrels, down 77,000 barrels from the previous week. Stocks were estimated at 25.74 million barrels, up 1.27 million barrels from the previous week. Weather was the main reason for the production slowdown and increase in stocks. Gas demand plunged to the bottom of the 5-year average.
March corn support is $4.10.
For the week, March corn was at $4.305 up 5.75 cents. May corn was at $4.38 up 6.0 cents.