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Jim Prince, 25-year commodity market veteran, just posted a 3+ minute video about a recent move in the commodity markets. Watch it now, and he'll send you a free companion PDF and an email reminder every time he posts a new Daily Alert video.
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Corn futures are 1 to 2 cents lower at midday. Weakness in the wheat market has been a drag on prices. Ethanol production was up and stocks were lower in the Wednesday report.EPA made a long awaited announcement on the Renewable Fuels Standards mandate this morning, officially increasing the yr/yr requirements for bio-fuels use.It puts a solid foundation under corn use for ethanol figure, but the market has already been operating at near record weekly production levels during 2015 without the mandate. This morning USDA reported net weekly export sales of 647,900 MT through May 21, after including a net reduction for new crop that amounted to a net -6,700 MT.