Corn Sticking Close to Steady on Thursday Morning

Group 1 - Corn prices are steady to slightly higher, with futures closing up 1 to 2 ¼ cents on Wednesday, and the CmdtyView national average Cash Corn price increased by 2 ¾ cents to $3.80 1/2 [1][4] - Preliminary open interest showed a modest increase of 13,539 contracts, indicating net new buying activity [1] - The average close for December futures this month has been $4.20 [1] Group 2 - EIA data reported ethanol production at 1.071 million barrels per day for the week ending on 10/3, a rebound of 76,000 bpd from the previous week [2] - Ethanol stocks decreased by 44,000 barrels to 22.72 million barrels, while ethanol exports rose by 50,000 barrels to 138,000 bpd [2] - Refiner inputs of ethanol fell by 13,000 bpd to 892,000 bpd [2] Group 3 - Export Sales data will not be reported due to the government shutdown, but traders expected 1.2-2 MMT of corn sold for the week of 10/2 [3] - ANEC estimates Brazilian corn exports at 6 MMT for October, an increase from 5.67 MMT in October 2024 [3] - China's CASDE report maintained the production estimate at 296.16 MMT, while reducing the import estimate by 1 MMT to 6 MMT [3]