The corn futures trade is backing off by 1 to 5c through Friday’s midday. Dec is trying to hold the $5 mark.
The weekly USDA Ethanol Report showed ethanol cash prices were mostly UNCH to 13c weaker to $2.06 to $2.39/gal. DDGS were mostly $5 lower to $20 weaker to $175 to $200/ton regionally. The corn oil market was mostly 2 to 8 cents lower from 56 to 70 cents per pound.
The weekly USDA data showed 881k MT of corn was booked during the week that ended 10/12. That was a 3-wk low, but was within estimates and well above the 200k MT sold during the same week last year. USDA listed Mexico as the top buyer, and as the top destination for the week’s export. Accumulated shipments were at 4 MMT (157 mbu) for the season.
Dec 23 Corn is at $5.00 3/4, down 4 1/4 cents,
Nearby Cash is at $4.72 1/2, down 3 3/4 cents,
Mar 24 Corn is at $5.14 1/4, down 2 3/4 cents,
May 24 Corn is at $5.21 3/4, down 2 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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