Corn futures are down 8 to 9 cents so far across most contracts on Wednesday, giving back the bounce from Tuesday. The CmdtyView national average Cash Corn price is down 8 1/2 cents at $4.28 1/4.
EIA’s weekly Petroleum Status Report showed ethanol production up another 39,000 bpd in the week of 7/24, to the second largest weekly total on record at 1.133 million bpd. Stocks were up 245,000 barrels in that week to 24.726 million barrels. Exports were back down 21,000 bpd to 137,000 bpd, with refiner inputs of ethanol up 1,000 bpd to 939,000 bpd.
The next 7 days are looking for 1 to 2 inches across much of eastern NE and the eastern portions of the Dakotas through MN, WI, IA, IL, IN and HO, with parts of IA north of the Quad Cities getting up to 4 inches.
A South Korean importer purchased a total of 69,000 MT of corn in a tender overnight.
Sep 26 Corn is at $4.50, down 8 1/2 cents,
Nearby Cash is at $4.20 3/4, down 8 1/2 cents,
Dec 26 Corn is at $4.72 1/4, down 8 1/4 cents,
Mar 27 Corn is at $4.87 1/2, down 8 1/4 cents,
New Crop Cash is at $4.23 1/2, down 8 1/4 cents,
On the date of publication, Austin Schroeder 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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