Corn prices are pushing higher into the midweek session, as contracts are up 2 to 2 ¼ cents. Futures extended the rally into Tuesday following the Monday strength. Contracts were up 2 ¾ to 5 ¼ cents across the board. The national average Cash Corn price from cmdtyView was up 6 3/4 cents at $3.96 1/2 per bu.

The monthly Grain Crushing report from NASS showed 472.7 mbu of corn used in ethanol production during August. That was down 2.3% from July after a revision higher and up 7.02% from August 2023. Full marketing year corn grind totaled 5.471 bbu, compared to the 5.465 bbu USDA estimate earlier this month. 

StoneX estimates the first corn crop out of Brazil at 24.87 MMT, slightly below their previous estimate. For the US, they raised their yield estimate by 1.1 bpa to 184 bpa. That pushed the total projected US production to 15.222 bbu, up 95 mbu from their previous number.

Dec 24 Corn  closed at $4.29, up 4 1/4 cents, currently up 2 cents

Nearby Cash  was $3.96 1/2, up 6 3/4 cents,

Mar 25 Corn  closed at $4.46 1/2, up 5 1/4 cents, currently up 2 1/4 cents

May 25 Corn  closed at $4.55 3/4, up 5 cents, currently up 2 cents