Corn price action is fractionally mixed so far on Thursday morning. Futures closed the Wednesday session with front months fractionally to 1 ¼ cents higher and some deferreds steady to fractionally lower. Open interest was up 6,656 contracts on Wednesday. The CmdtyView national average Cash Corn price was up 3/4 cents at $4.18 1/4.
Weekly EIA data showed ethanol production dropping 80,000 barrels per day in the week of 4/17 to 1.04 million barrels per day. Stocks of ethanol were up 249,000 barrels to 26.948 million barrels. Exports were up just 10,000 bpd to 91,000 bpd, with refiner inputs of ethanol up 46,000 bpd.
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Export Sales data will be released on Thursday, with traders estimating sales in the week of April 16 to total 1-1.8 MMT for old crop. New crop sales are estimated in a range of 0 to 250,000 MT.
South Korean importers purchased a total of 134,000 MT of corn in a private deal overnight.
May 26 Corn closed at $4.54 1/4, up 1/2 cent, currently down 1/4 cent
Nearby Cash was $4.18 1/4, up 3/4 cent,
Jul 26 Corn closed at $4.62 3/4, up 3/4 cent, currently unch
Dec 26 Corn closed at $4.82 1/4, up 1/2 cent, currently up 1/4 cent
New Crop Cash was $4.39 3/8, up 3/4 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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