Corn started the week by opening lower with early selling tied to spill over pressure from last Friday as well as from technical selling as corn failed to cross over resistance. Losses were trimmed early as once wheat and soybeans pushed higher; corn went along for the ride. News that Congress might have finally come to a compromise to re-open the government added support as this means news could finally start to filter back into the market. Another strong weekly export shipments estimate added support. As of Last week, corn’s shipments are running 66% ahead of last year’s pace. Estimates have corn harvest progress between 88 and 92%. As of November 7, Brazil’s first crop corn planting progress was estimated at 78% complete vs 68% last week and 79% average.
In Tuesday’s session corn opened lower but managed to firm and trade steady throughout the night. Early selling was tied to technical selling as corn tried to test support. Selling pressure was due to reports that Brazil’s sorghum and DDGS are now approved to be exported to China. Safras and Mercado increased Brazil’s corn production to 143.6 MMT vs 142.5 MMT previously. Buying returned once the day session got under way with support coming from early estimates for Friday’s report. Dr Cordonnier left his production estimate for Brazil unchanged at 140 MMT with first crop corn planting progress estimated at 72%. Corn managed to firm and trade with gains during the day session with technical buying, the main supporting factor, which was spurred on by strong demand.
On Wednesday corn opened lower but managed to shake off the early selling pressure and pushed to post gains by the end of the night. Early selling was tied to profit taking by weak longs ahead of what most expect to be a negative report on Friday. Once the weak long selling dried up, corn found support from a firm wheat market as well as from rumors that EPA is about to come with friendly news for the US biofuels industry. Expectations that the House will approve the CR today and that the government shutdown will end after 43 days added support. Corn saw a very tight 4 cent trading range today. Technically corn is sitting at major resistance.
Corn traded in a very tight range just below unchanged overnight but saw gains throughout Thursday’s day session and closed solidly higher. The market is now at levels not seen since late June. Positioning ahead of tomorrow’s report and expectations of strong export demand supported corn. Tomorrow USDA will publish all of the reportable daily export sales that occurred during the shutdown. For the week ending 9/25/25, corn export sales totaled 54.9 MB. USDA will release weekly reports twice a week until caught up. In South American news, CONAB estimates Brazil’s new crop corn production at 138.8 MMT, slightly lower than last year’s production of 141.1 MMT.
Last week’s ethanol production was 1.075 million barrels per day, down 48,000 from last week and a 4-week low. Stocks came in at 22.219 million barrels, down 436,000 from last week and within trade expectations.
Dec corn support is $4.10.
For the week, Dec corn was at $4.3025 up 3.0 cents. Mar corn was at $4.44 up 2.0 cents.
Corn Weekly Comments November 14
Corn Weekly Comments November 14
Corn started the week by opening lower with early selling tied to spill over pressure from last Friday as well as from technical selling as corn failed to cross over resistance. Losses were trimmed early as once wheat and soybeans pushed higher; corn went along for the ride. News that Congress might have finally come to a compromise to re-open the government added support as this means news could finally start to filter back into the market. Another strong weekly export shipments estimate added support. As of Last week, corn’s shipments are running 66% ahead of last year’s pace. Estimates have corn harvest progress between 88 and 92%. As of November 7, Brazil’s first crop corn planting progress was estimated at 78% complete vs 68% last week and 79% average.
In Tuesday’s session corn opened lower but managed to firm and trade steady throughout the night. Early selling was tied to technical selling as corn tried to test support. Selling pressure was due to reports that Brazil’s sorghum and DDGS are now approved to be exported to China. Safras and Mercado increased Brazil’s corn production to 143.6 MMT vs 142.5 MMT previously. Buying returned once the day session got under way with support coming from early estimates for Friday’s report. Dr Cordonnier left his production estimate for Brazil unchanged at 140 MMT with first crop corn planting progress estimated at 72%. Corn managed to firm and trade with gains during the day session with technical buying, the main supporting factor, which was spurred on by strong demand.
On Wednesday corn opened lower but managed to shake off the early selling pressure and pushed to post gains by the end of the night. Early selling was tied to profit taking by weak longs ahead of what most expect to be a negative report on Friday. Once the weak long selling dried up, corn found support from a firm wheat market as well as from rumors that EPA is about to come with friendly news for the US biofuels industry. Expectations that the House will approve the CR today and that the government shutdown will end after 43 days added support. Corn saw a very tight 4 cent trading range today. Technically corn is sitting at major resistance.
Corn traded in a very tight range just below unchanged overnight but saw gains throughout Thursday’s day session and closed solidly higher. The market is now at levels not seen since late June. Positioning ahead of tomorrow’s report and expectations of strong export demand supported corn. Tomorrow USDA will publish all of the reportable daily export sales that occurred during the shutdown. For the week ending 9/25/25, corn export sales totaled 54.9 MB. USDA will release weekly reports twice a week until caught up. In South American news, CONAB estimates Brazil’s new crop corn production at 138.8 MMT, slightly lower than last year’s production of 141.1 MMT.
Last week’s ethanol production was 1.075 million barrels per day, down 48,000 from last week and a 4-week low. Stocks came in at 22.219 million barrels, down 436,000 from last week and within trade expectations.
Dec corn support is $4.10.
For the week, Dec corn was at $4.3025 up 3.0 cents. Mar corn was at $4.44 up 2.0 cents.