Thursday’s corn market kept to ~6 cent trading range before ending fractionally to 1 ¼ cents higher. That has the March contract on a net 4 ¾ cent loss for the week into Friday.
Analysts are looking for weekly corn bookings to come in between 500k MT and 1.2 MMT for the week that ended 12/28.
Weekly data from EIA showed ethanol producers averaged 1.049 million barrels per day during the week that ended 12/29. That was down from the 2nd most all time the week prior as a 4-wk low.
The monthly NASS Grain Crush report saw 454.987 mbu of corn used for ethanol production during November ’23. That was a 1% dip from October’s draw but was 1% above Nov ’22. Pre-report estimates ran around 451 mbu. The season’s total reached 1.345 bbu for Q1. That is 58 mbu ahead of last year’s pace.
Mar 24 Corn closed at $4.66 1/2, up 1 1/4 cents,
Nearby Cash was $4.39, up 1 1/4 cents,
May 24 Corn closed at $4.79, up 1 cent,
Jul 24 Corn closed at $4.88 3/4, up 1/2 cent,
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