Corn Markets Weaker at Midday

Midday corn futures are trading 1 1/2 to 6 1/2 cents in the red. December is the front month now with an expiration gap up at $7.09/bu. 

USDA reported 583k MT of corn was sold during the week that ended 9/15. That was within the range of estimates. The 21/22 MY finished, with USDA’s weekly data showing 59.764 MMT for the season’s export. The new crop’s export program has 463k MT shipped through 9/15.

EIA reported ethanol production during the week that ended 9/9 averaged 963k barrels per day. That was down from 989k bpd last week and was a 22wk low. Ethanol stocks shrank 295k barrels to 22.843 million – a 12 wk low. 

StatsCan reported their September corn production estimate was 14.86 MMT, compared to 14.82 MMT in August and 14.6 MMT expected. 

Dec 22 Corn  is at $6.80 1/4, down 2 cents,

Nearby Cash   is at $6.79 3/4, down 3 cents,

Mar 23 Corn  is at $6.85 1/2, down 1 3/4 cents,

May 23 Corn  is at $6.86 1/2, down 1 3/4 cents,