Corn Bouncing Off Lows at Midday
Corn futures are trading with Wednesday losses of 1 to 2 cents so far at midday, as cotracts are pulling off early lows. The CmdtyView national average Cash Corn price is 1/4 cent lower at $4.22 3/4.
EIA data from this morning showed ethanol production in the week of October 16 at 1.094 million barrels per day, up 29,000 bpd on the week. Ethanol stocks were up 616,000 barrels to 24.558 million barrels. Refiner inputs slipped back 8,000 bpd to 891,000 bpd, as exports saw a 11,000 bpd improvement to 132,000 bpd.
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Taiwan purchased 65,000 MT of corn in a tender, with the expected origin from Brazil.
Dec 26 Corn is at $4.61, down 1 cent,
Nearby Cash is at $4.22 3/4, down 1/4 cent,
Mar 27 Corn is at $4.75, down 1 cent,
May 27 Corn is at $4.83, down 1 cent,
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.
