The corn markets were slightly weaker in the middle of the week. The December contract lost 2.75 US cents and ended trading at 426.75 US cents/bushel. March followed with a drop of 2.50 US cents to 444.50 US cents/bushel.
The market was burdened by the weekly ethanol figures: US production fell by 50,000 barrels per day to 1.055 million barrels in the reporting week to September 12, which is a negative signal for short-term demand despite a slight annual increase of 6,000 barrels. Ethanol stocks fell by 235,000 barrels to 22.602 million, while the use of ethanol by refineries rose by 42,000 barrels to 922,000 barrels per day. Nevertheless, this was not enough to support the market.
Traders are eagerly awaiting the USDA export report on Thursday. Analysts expect US corn sales of between 0.5 and 1.9 million tons for the week ending September 11. Meanwhile, new data from Canada showed an almost stable corn harvest: Statistics Canada puts production in 2025 at 15.5 million tons, an increase of 1 percent compared to the previous year and in line with the August forecast.
On Euronext, however, maize recorded a gain of €1.50 to €189.75 per tonne for November.
