Corn futures are pulling back in the front months on Wednesday, with losses of 1 to 2 cents. New Crop December is up ½ cent at midday.
EIA’s weekly petroleum report tallied ethanol production at 954,000 barrels per day in the week that ended on April 19. That was a 29,000 bpd drop on the week and takes the two week drop to 102,000 bpd. Stocks were pegged at 25.733 million barrels, down 347,000 barrels from the week prior and the third weekly draw in a row.
Export Sales data is expected to show 400,000 to 900,000 MT of old crop corn booked in the week of 4/18. New crop sales are seen at 25,000 to 350,000 MT in total bookings.
May 24 Corn is at $4.41 1/4, down 1 3/4 cents,
Nearby Cash is at $4.26 5/8, down 1 3/4 cents,
Jul 24 Corn is at $4.52, down 1/2 cent,
Dec 24 Corn is at $4.75 1/4, up 1/2 cent,
New Crop Cash is at $4.39 1/8, up 5/8 cent,
On the date of publication, Alan Brugler 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.