Corn (P) Futures PricesWednesday, Jun 19th, 2013
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Latest Brugler Corn (P) Report
Corn futures settled 9 to 21 cents higher today. Weekly EIA ethanol production dropped to an average of 873,000 bpd last week, down 11,000 bpd. Ethanol stocks also jumped to 16.5 million barrels, indicating that weekly production + imports was larger than use. A Memphis based analytical firm also estimated US acreage at 95.262 million, larger than some of the more bullish trade guesses but down more than 2 million acres from the March Intentions report and smaller than the previous estimate from that firm. Traders are looking for USDA to report net weekly export sales of 200-450,000 MT in the Weekly Export Sales report on Thursday morning.
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