Following the turnaround Tuesday pullback, Wednesday markets are down another 4 3/4 to 7 1/2 cents for midday Wednesday.
IHS Markit, formally Informa, revised their estimated 2021/22 U.S. corn yield to 178.7 bpa.
EIA reported ethanol producers averaged 1.107 million barrels per day of production through the week of 10/29. That was up 1,000 barrels per day from the week prior and was just 1,000 barrels per day off the record set in ’08. Ethanol stocks had risen 204,000 barrels to 20.129 million. That was a 5-week high.
Trader estimates ahead of the weekly Export Sales report are to see between 700,000 and 1.4 MMT of corn booked through the week that ended 10/28. NMY bookings during the same week are expected to be less than 20k MT.
Dec 21 Corn is at $5.65 1/2, down 7 1/2 cents,
Nearby Cash is at $5.48 2/9, down 7 5/8 cents,
Mar 22 Corn is at $5.73 1/2, down 7 3/4 cents,
May 22 Corn is at $5.77 3/4, down 7 3/4 cents,
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