Corn Prices Slightly Higher, Bulls Defend $4 Level

Corn prices closed slightly higher on Wednesday, with bulls defending the $4 level. The front month national average cash corn price was up 1 ½ cents at $3.85 1/2. The weekly EIA report showed a production increase of 9,000 barrels per day, while stocks decreased by 158,000 barrels. Export sales data is expected to show between 375,000 and 900,000 MT of corn sold. Traders estimate old crop corn stocks at 1.351 billion bushels. Ukraine’s grain trader union predicts a 2025 corn crop of 29.25 MT with exports up to 24 MMT. Corn prices closed with Jul 25 at $4.12 1/2, Sep 25 at $3.99 1/4, and Dec 25 at $4.15 1/2.

Read more at Yahoo Finance: Corn Holds Higher into the Wednesday Close