Corn Futures PricesWed, Apr 23rd, 2014
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Corn futures are trading 7 cents higher at midday. The weekly EIA report showed ethanol production at 910,000 bpd, which was lower compared to last week’s figure of 939,000 bpd. Ethanol stocks were reported at 16.5 million barrels, up 500,000 from last week. Ethanol imports were 11 million bpd this week. Rain in the Midwest is shutting down some of the planting activity. The CME announced daily trading limits for corn futures will be decreased from 40 cents to 35 cents on May 1. The new limits will be in effect until November. South Korea’s KFA group was said to have purchased 60,000 MT of optional origin corn.
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