Corn contracts are firing on all cylinders Wednesday, jumping 7-8 points as traders position ahead of the holiday break. December futures hit first notice day Friday—timing matters here. Spot prices climbed to $3.88, up a quarter cent nationally.
The real story? Ethanol production just hit near-record levels. EIA data shows 1.113M barrels/day for the week ending 11/21—that’s a 22K bpd bump from last week. But here’s the kicker: ethanol stocks actually dropped 339K barrels to 21.968M, suggesting strong crush demand underneath. Exports softened though, sliding 23K bpd to 122K bpd.
Money flows getting interesting. Late CFTC positioning data (Oct 14 week) shows managed money still net short 191K+ corn contracts, but commercials just slashed 37.9K shorts—their smallest net short position in ages at just 13.7K. That’s bullish accumulation territory.
Contract snapshot:
Dec 25: $4.30 3/4 (+7 1/4¢)
Mar 26: $4.45 3/4 (+7 1/2¢)
May 26: $4.53 3/4 (+7¢)
Market closes Thursday, reopens Friday 8:30 CST with early exit. Watch if this bounce holds through the thin holiday tape.
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Corn Futures Surge Into Thanksgiving: What the Data Says
Corn contracts are firing on all cylinders Wednesday, jumping 7-8 points as traders position ahead of the holiday break. December futures hit first notice day Friday—timing matters here. Spot prices climbed to $3.88, up a quarter cent nationally.
The real story? Ethanol production just hit near-record levels. EIA data shows 1.113M barrels/day for the week ending 11/21—that’s a 22K bpd bump from last week. But here’s the kicker: ethanol stocks actually dropped 339K barrels to 21.968M, suggesting strong crush demand underneath. Exports softened though, sliding 23K bpd to 122K bpd.
Money flows getting interesting. Late CFTC positioning data (Oct 14 week) shows managed money still net short 191K+ corn contracts, but commercials just slashed 37.9K shorts—their smallest net short position in ages at just 13.7K. That’s bullish accumulation territory.
Contract snapshot:
Market closes Thursday, reopens Friday 8:30 CST with early exit. Watch if this bounce holds through the thin holiday tape.