Corn futures are trading with contracts steady to 2 cents higher as July is down ¼ cent. The CmdtyView national average Cash Corn price is steady at $3.86 1/4.
EIA’s weekly update showed a total of 1.108 million barrels per day of ethanol production in the week of June 5, steady with the week prior. Ethanol stocks were down 154,000 barrels to 24.452 million barrels. Ethanol exports were up 20,000 bdp to 155,000 bpd, with refiner inputs of ethanol up 8,000 bpd to 907,000 bpd.
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USDA will release their monthly WASDE report on Thursday, with a Bloomberg survey of traders looking for a 6 mbu cut to old crop corn US carryout at 2.136 bbu, with new crop seen at 1.947 bbu, a 10 mbu reduction if realized.
Jul 26 Corn is at $4.19 1/4, down 1/4 cent,
Nearby Cash is at $3.86 1/4, up 0 cent,
Sep 26 Corn is at $4.27 1/2, unch,
Dec 26 Corn is at $4.46 3/4, up 1 1/2 cents,
New Crop Cash is at $4.00 1/2, down 1/4 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.
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