Corn Holding Steady, as Ethanol Production Slips Back

Group 1: Corn Futures and Prices - Corn futures are trading with most contracts close to unchanged, with December contracts up by 1 cent and other contracts slightly lower [1] - The CmdtyView national average Cash Corn price has increased by 1 1/4 cents to $3.93 3/4 [1] Group 2: Ethanol Production and Stocks - EIA data indicates ethanol production at 1.091 million barrels per day for the week of October 24, reflecting a decrease of 21,000 bpd from the previous week [2] - Ethanol stocks increased by 448,000 barrels, reaching a total of 22.367 million barrels [2] - Refiner inputs of ethanol remained steady at 911,000 barrels per day, while exports rose by 45,000 bpd to 175,000 bpd [2] Group 3: Market Estimates and Crop Projections - USDA remains closed due to a shutdown, with traders anticipating corn sales between 1.1 to 2.1 million metric tons for the week ending October 23 [3] - Rabobank estimates the Brazilian corn crop for 2025/26 at 137 million metric tons [3] - Current prices for corn contracts include December 25 Corn at $4.33 (up 1 cent), Nearby Cash at $3.93 3/4 (up 1 1/4 cents), March 26 Corn at $4.45 3/4 (down 1/4 cent), and May 26 Corn at $4.54 1/4 (down 3/4 cent) [3]