CBOT Corn Market Closes Higher on Wednesday

Corn futures saw a midweek recovery on Wednesday, with most contracts posting gains of up to 3 cents. The CmdtyView national average cash corn price rose 2.75 cents to $4.13¼ per bushel.

The average closing price for December corn futures in October has been $4.78 per bushel, with only two days remaining in the harvest price crop insurance discovery period.

The USDA’s Export Sales report will be released on Thursday morning. According to a Reuters survey, U.S. corn export sales for the 2026/27 marketing year during the week ending October 22 are expected to range from 800,000 to 1.6 million metric tons. Sales for the 2027/28 marketing year are projected at 0 to 50,000 metric tons.

According to the U.S. Energy Information Administration’s (EIA) weekly report, ethanol production for the week ending October 23 increased by 24,000 barrels per day to 1.118 million barrels per day. Ethanol stocks declined by 35,000 barrels to 24.523 million barrels. Refinery ethanol inputs increased by 16,000 barrels per day to 907,000 barrels per day. This increase came despite gasoline supplied falling to 8.358 million barrels per day, its lowest level since February.