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Corn futures are trading 6 to 6 ¾ cents higher in the front months on Wednesday, posting a bounce from recent weakness that led to new lows for the move.
EIA reported that ethanol producers averaged 1.069 million barrels of output per day during the week that ended 8/11. That was 460k bpd above the same week last year. Ethanol stocks had an additional 555k barrels to 23.435 million.
Brazil’s Anec estimates August corn exports will reach 9.03 MMT. That would be up from 6.9 MMT last year.
Sep 23 Corn is at $4.70 1/2, up 6 1/2 cents,
Nearby Cash is at $5.10 1/4, up 6 3/8 cents,
Dec 23 Corn is at $4.82 1/4, up 6 3/4 cents,
Mar 24 Corn is at $4.96, up 6 3/4 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. For more information please view the Barchart Disclosure Policy here.
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