Daily Corn Price Tracker with Vanessa Clark
https://www.instagram.com/vanessaclarkipai This is your Corn podcast. Hey there and welcome back to Daily Corn Price Tracker. I am Vanessa Clark, here to walk you through what is happening in the corn market right now. Let us start with prices. US corn futures are currently trading around four dollars and sixty six cents per bushel on the major exchanges. According to Barchart, the national average cash corn price is a little lower, sitting near four dollars and twenty seven cents per bushel. So futures are carrying a modest premium over cash bids at the moment. Yesterday, corn futures came under solid selling pressure. Pro Farmer reports that the nearby July corn contract fell about nine and a half cents, finishing near the daily low. That drop was driven in large part by falling crude oil prices. Weak energy markets often weigh on corn because of the close link between corn and ethanol demand. Energy is not the only factor. A wet weather forecast across much of the United States Corn Belt is adding pressure as well. With a decent portion of the corn crop already planted, traders are factoring in good early moisture and the potential for solid yield prospects, which can be bearish for prices in the short term. On the demand side, the Energy Information Administration shows ethanol output running at about one point one one million barrels per day, up from last week and above year ago levels. Ethanol stocks are nearly steady, and refiners have slightly increased their ethanol use. That is a supportive sign for corn demand, even as export demand stays a bit sluggish and traders watch for any fresh buying from major importers like China. Here are your quick takeaways. One, futures around four sixty six, cash near four twenty seven. Two, lower crude oil and good planting progress are pressuring prices. Three, ethanol demand is firm, helping to put a floor under the market. That is it for today’s Daily Corn Price Tracker. I am Vanessa Clark. Thanks for listening, make sure you subscribe, and tune in next time for your quick update on corn prices and market trends. For more http://www.quietplease.ai Check out Vanessa on Instagram https://www.instagram.com/vanessaclarkipai For some deals, check out https://amzn.to/4hSgB4r
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