Corn futures were 2 to 3 cents higher at the Tuesday close. The CmdtyView national average Cash Corn price was up 2 1/2 cents at $3.94 1/4.
EIA data will be released on Wednesday morning, with most expecting to see a reduction in ethanol output for the week ending on January 30.
NASS released their monthly Grain Crushings report on Monday afternoon, with December corn used for ethanol at 488.26 million bushels. That was a record high for the month and was 5.1% above the same week last month. Marketing year corn used in ethanol production is at 1.863 billion bushels, up 1.1 million bushels from the same period last year.
A South Korean importer purchased a total of 134,000 MT of corn in a tender overnight.
Mar 26 Corn closed at $4.28 1/2, up 2 3/4 cents,
Nearby Cash was $3.94 1/4, up 2 1/2 cents,
May 26 Corn closed at $4.35 3/4, up 2 1/4 cents,
Jul 26 Corn closed at $4.42, up 2 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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