Corn prices are fractionally to 1 ¾ cents in the red so far on Thursday morning. Futures closed with Wednesday losses of 4 to 5 1/4 cents across most contracts, as bulls struggled to follow through with the Tuesday gains. Preliminary open interest was up 2,233 contracts on Wednesday, as the front three contracts showed some liquidation. The CmdtyView national average Cash Corn price was down 5 cents at $3.74 3/4. 

Weekly ethanol data will be released this morning due to the Monday holiday, with some looking for production to be steady to slightly lower vs. last week. The Export Sales report is delayed until Friday.

An Allendale survey of producers showed corn yield estimated at 187.52 bpa, with production at 16.631 billion bushels.

Crop Progress data showed conditions down 2 points to 69% gd/ex, with the Brugler500 index (factoring in all 5 USDA categories) falling 5 points to 376, the lowest since the first week of June. Ratings in ND were up 11 points, with other fringe states seeing improvement. Deterioration was noted in IL down 16 points, with OH dropping 11, SD down 5, NE 4 points lower, and IN, IA, and MO dropping 2 points.

Argus Media estimates the Ukrainian corn crop at 31.3 MMT, a 4.4 MMT increase from the year prior if realized. 

Sep 25 Corn  closed at $3.97 3/4, down 5 1/4 cents, currently down 1 3/4 cents

Nearby Cash  was $3.74 1/1, down 5 cents,

Dec 25 Corn  closed at $4.18, down 5 cents, currently down 1/4 cent

Mar 26 Corn  closed at $4.36, down 4 3/4 cents, currently down 1/4 cent