Corn futures fell 5 to 7 cents on most contracts on Wednesday. CmdtyView’s national average cash corn price was down 6 1/2 cents at $3.98 3/4.
This morning’s weekly EIA data showed record ethanol production for the week ended November 28, totaling 1.126 million barrels per day, an increase of 13,000 bpd week/week. Ethanol stocks rose by 543,000 barrels to 22.511 million. This occurred because a 48,000 bpd increase in exports (to 170,000 bpd) was not enough to offset increased production and a 28,000 bpd decline in refiner inputs of ethanol (to 857,000 bpd).
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Export sales for the week of October 30 will be released Thursday morning, with traders expecting to sell 0.8-2.5 MMT of corn during that week.
A Taiwanese importer has put out a tender for 65,000 metric tonnes of wheat, with Thursday as the deadline for offers.
December 25 Corn closed at $4.31 1/2, down 6 1/2 cents.
cash nearby $3.98 was 3/4, down 6 1/2 cents,
March 26 Corn closed down 6 1/2 cents at $4.43 1/2,
26 May Mecca It closed at $4.50 3/4, down 6 3/4 cents.
On the date of publication, Austin Schroeder did not have (directly or indirectly) any positions in any securities mentioned in this article. All information and data in this article is for informational purposes only. Please see the Barchart Disclosure Policy here for more information.
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