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Corn futures ended the session 2c off the high but 3 ½ cents off their low on 1 ¾ to 3c gains for the day.
Traders are looking for the weekly FAS data to show between 500k and 1.1 MMT of corn was sold during the week that ended 10/12. New crop sales are expected to be below 125k MT for the week.
EIA showed ethanol producers averaged 1.035m barrels of ethanol output per day during the week that ended 10/13. That was a 6-wk high and was the 4th consecutive +1m bpd week. Ethanol stocks tightened by 414k barrels to 21.112 million.
Dec 23 Corn closed at $4.92, up 3 cents,
Nearby Cash was $4.62 1/1, up 3 3/4 cents,
Mar 24 Corn closed at $5.06 1/2, up 2 3/4 cents,
May 24 Corn closed at $5.14 1/2, up 3 1/4 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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