Corn prices stayed within 7 cents of UNCH through Wednesday’s trade but spent most of the day in plus territory. At the close the front month contracts were 2 1/4 to 3 3/4 cents in the black.
Analysts expect to see between 0-300k MT of old crop corn was sold for export during the week that ended 7/21. New crop sales are figured as between 200 and 625k MT ahead of the Export Sales update on Thursday morning.
EIA’s weekly ethanol production data showed producers average 1.021 million barrels per day through the week that ended 7/22. That was down from 1.034 million last week and under the 1.037m bpd 5-week average. Ethanol stocks were down 225k barrels for the week to 23.328 million.
Sep 22 Corn closed at $6.00 1/4, up 3 1/4 cents,
Nearby Cash was $6.86 1/2, up 3 cents,
Dec 22 Corn closed at $6.03, up 2 1/4 cents,
Mar 23 Corn closed at $6.10, up 2 1/2 cents,
New Crop Cash was $5.67 3/8, up 3 1/4 cents,
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