Corn futures are seeing a drop in midday trading, with contracts down 2 to 3 cents. The CmdtyView national average cash corn price has fallen by 2 1/4 cents, now standing at $4.39.
Data from the Energy Information Administration (EIA) revealed that ethanol production for the week of October 8 increased by 12,000 barrels per day, reaching 1.065 million barrels per day. Ethanol stocks rose by 199,000 barrels to 23.942 million barrels. Refiner inputs increased by 2,000 barrels per day to 899,000 barrels per day, while ethanol exports decreased by 45,000 barrels per day to 121,000 barrels per day.
CONAB's latest data showed that the 2026/27 corn crop is projected at 148 million metric tons (MMT), a 2.4% increase from the previous year if realized. The first crop is expected to contribute significantly to this growth, up 8.9% to 32.1 MMT, largely driven by a 10.72% increase in acreage.
Key corn futures prices include December 2026 corn at $4.78 1/2, down 2 1/4 cents, nearby cash corn at $4.39 1/1, down 2 1/4 cents, March 2027 corn at $4.92 1/4, down 2 cents, and May 2027 corn at $4.99 3/4, down 2 cents.