Corn futures are trading with midday losses of 1.7% to 2.3% so far for Wednesday. March is down the most with a 15 cent loss so far back to Dec 21st levels.Â
Monthly NASS data released after the close showed 447.397 mbu of corn was used for ethanol production during November. That was down 0.4% from October’s pull, and was 4.2% lighter yr/yr. The 2022/23 season’s ethanol pull reached 1.28 bbu through November, trailing last year by 62.1 mbu. USDA’s December WASDE had a 51 mbu loss programmed in. Corn used for ethanol is 24% of the current forecast through Q1, needing a 444 mbu/mo average.Â
Monthly export data from Brazil showed 6.412 MMT of corn was shipped during December. That was an 88% increase from Dec ’21 as the record second crop there continues to impact world trade.Â
Mar 23 Corn  is at $6.55 1/2, down 15 cents,
Nearby Cash  is at $6.58 3/4, down 14 3/4 cents,
May 23 Corn  is at $6.55 1/2, down 14 3/4 cents,
Jul 23 Corn  is at $6.50 3/4, down 14 cents,
On the date of publication, Alan Brugler did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes.
/Broadcom%20Inc%20logo%20on%20building-by%20Poetra_%20RH%20via%20Shutterstock.jpg)
/Nvidia%20logo%20on%20phone%20screen%20with%20stock%20chart%20by%20xalien%20via%20Shutterstock.jpg)
