Midday corn futures are trading 1 ½ to 2 ½ cents higher so far for Friday. The Dec contract has printed a 5 ¾ cent range so far for the session from -1 to +4 ¾ cents.
USDA’s national weekly Ethanol report showed the cash market for ethanol ranged $1.93 to $2.25 regionally, mostly 1 to 13 cents lower. The DDGS market was mostly $2-$10/ton stronger for the week from $185 to $210 regionally. Corn oil business ranged from 57 cents to 62 cents regionally this week, mostly UNCH to 6 c/lb weaker.
The European Commission raised their corn production forecast by 100k MT to 59.9 MMT.
FAS reported corn Export Sales were 1.351 MMT for the week that ended 10/19. That set the season’s total commitment at 17.53 MMT (690 mbu), up from 13.83 MMT (544 mbu) last year.
Dec 23 Corn closed at $4.80 1/2, up 1 1/4 cents,
Nearby Cash was $4.52 3/4, up 1 3/8 cents,
Mar 24 Corn closed at $4.94 3/4, up 1 1/2 cents,
May 24 Corn closed at $5.03, up 1 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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