Midday corn prices are firm for Friday with the board working fractionally on either side of UNCH.
USDA’s National Weekly Ethanol report had cash ethanol prices mostly 7 to 10c higher for the week from $2.15 to $2.35/gal regionally. The DDGS market was mixed, from $5-$25 weaker to $5-$15 stronger this week, ranging from $180/ton to $240/ton regionally. The report had cash corn oil prices from 66 to 70 cents/lb mostly 1-2c higher wk/wk.
NOAA’s 7-day QPF shows rain from the Dakotas through MN following the Missouri River Southward to the Gulf. Western IA and MO will sese accumulations of ~2” for the week. W. NE will stay mostly dry with accumulations below 1”, likewise for much of the ECB.
The IGC estimates global corn production at 1.222b MT. That is 1 MMT above their prior estimate and it went to carryout at 289 MMT.
Dec 23 Corn is at $4.75 1/4, unch,
Nearby Cash is at $4.47 5/8, up 3/8 cent,
Mar 24 Corn is at $4.90 1/4, up 1/4 cent,
May 24 Corn is at $4.98 3/4, up 1/4 cent,
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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