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Corn futures settled mostly 2 1/2 cents lower. Weekly data from EIA showed ethanol production up 8,000 barrels per day for the week ending Sept. 23. Ethanol stocks were 20.6 million barrels, up 600K from the previous week. Ethanol futures ended the day a penny and a half lower. The range of pre-report trade guesses for Friday's USDA report showing Sept 1 corn stocks stretches from 1.665 - 1.862 billion bushels (bbu). The average estimate is 1.754 bbu, which would be about 38mbu looser than the September 12 estimate, and 23 mbu looser year/year. Trade expectations for the weekly Export Sales report on Thursday morning are for net corn sales to be between .5 and 1.0 MMT.
Dec 16 Corn settled at $3.29 1/4, down 2 1/2 cents,
Mar 17 Corn settled at $3.39, down 2 3/4 cents,
May 17 Corn settled at $3.46 1/4, down 2 1/2 cents
Jul 17 Corn settled at $3.53 1/4, down 2 1/2 cents