Corn futures are trading with 1 to 4 cent gains across most contracts on Thursday. The CmdtyView national average Cash Corn price was down 4 3/4 cents to $4.13 1/4. Crude oil is up just 27 cents at midday, as reports of a US/Iran ceasefire extension are pulling the market off the highs.
EIA data from this morning showed 1.089 million barrels per day of ethanol production in the week of 5/22, down 22,000 bpd from the previous week. Stocks were up 93,000 barrels to 24.968 million barrels. Exports of ethanol were down 47,000 barrels per day in that week to 102,000 bpd, as refiner inputs of ethanol rose 20,000 bpd to 937,000 bpd.
A South Korean importer purchased a total of 133,000 MT of corn in a tender overnight.
Jul 26 Corn closed at $4.54 1/4, up 1 3/4 cents,
Nearby Cash was $4.15, up 2 cents,
Sep 26 Corn closed at $4.62 3/4, up 3 cents,
Dec 26 Corn closed at $4.81 1/4, up 3 3/4 cents,
New Crop Cash was $4.33, up 3 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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