The corn market ended the Tuesday session with losses after a stronger overnight session. Contracts were down fractionally to 1 ¼ cents on the day. The national average Cash Corn price from cmdtyView was up ¼ cent at $4.05 1/2.
A report on Tuesday initially indicated there wouldn’t be a finalization of guidance for the 45Z Clean Fuel Production tax before the Biden administration left office. Later in the day, according to a DTN report, clarification from the Treasury Department indicated there would be guidance before they left office.
USDA’s Grain Crushing report for October grind showed 460.49 mbu of corn used in ethanol production during the month. That was down 0.4% from last year but a 3% hike from the same month last year.
Dec 24 Corn closed at $4.23 1/4, down 1 1/4 cents,
Nearby Cash was $4.05 1/2, up 1/4 cent,
Mar 25 Corn closed at $4.32 1/4, down 1/4 cent,
May 25 Corn closed at $4.38, down 1 cent,
- The "Yeah, but" Problem: What’s Holding The Grain Markets Back?
- Corn Demand in Focus: What The Cash Market May Be Trying To Say
- Wheat: What's Bullish, What's Bearish and What To Watch Next
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