Corn futures are trading with 1 to 2 cent gains so far on Wednesday. The CmdtyView national average Cash Corn price is down another ½ cent at $3.97 1/4. The market will be closed on Thursday for New Years Day, with a hard open at 8:30 am CST on Friday.
USDA released their Export Sales report this morning, with a total of 2.2 MMT of corn sold in the week of December 18, exceeding traders looking for between 1-2 MMT. That was a 5-week high for sales and 28.7% above the same week last year.
EIA data was caught up on Wednesday, with a total of 1.12 million barrels of ethanol produced in the week of 12/26, back up 25,000 bpd from the week prior. Ethanol stocks were 416,000 barrels higher to 22.944 million barrels. Ethanol exports were down 71,000 bpd to 148,000 bpd, as refiner inputs of ethanol down 24,000 bpd to 888,000 bpd.
Mar 26 Corn is at $4.41 1/2, up 1 cent,
Nearby Cash is at $3.97 1/4, down 1/2 cent,
May 26 Corn is at $4.49 1/2, up 1 cent,
Jul 26 Corn is at $4.55 3/4, up 1 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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