Corn futures ended the Wednesday session with contracts a penny to 2 cents higher across the front months. The CmdtyView national average Cash Corn price was up 2 cents at $3.96 1/4. Some spillover support was from the rally in soybeans.
USDA reported a private export sale of 130,480 MT of corn to unknown destinations this morning. Weekly data will be out on Thursday, with traders looking for between 0.8-2.1 MMT in corn sold for the week ending on 1/29.
EIA data from this morning showed a total of 956,000 barrels per day of ethanol production in the week of 1/30, down 158,000 bpd from the previous week. Stocks of ethanol were down 264,000 barrels to 25.136 million barrels. Export were up 59,000 bpd to 216,000 bpd, with refiner inputs of ethanol dropping 92,000 bpd to 791,000 bpd.
A South Korean importer purchased a total of 65,000 MT of corn in a private tender on Tuesday.
Mar 26 Corn closed at $4.29 1/2, up 1 cent,
Nearby Cash was $3.96 1/4, up 2 cents,
May 26 Corn closed at $4.37, up 1 1/4 cents,
Jul 26 Corn closed at $4.43 1/4, up 1 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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