Corn futures are trading with fractional losses to kick off the Thursday session. Prices collapsed lower on Wednesday, with contracts closing down 4 to 6 cents. December settled the day at $3.99 ¾.
Export Sales data estimates are running 275,000 MT to 600,000 MT for old crop corn in the week ending on July 25. New crop bookings are expected to total 400,000 to 800,000 MT for that week.
EIA’s weekly Petroleum Status report tallied US ethanol production at 1.109 million barrels per day in the week that ended on July 26. That was up 14,000 bpd from the week prior and a record for any week since EIA kept track starting in 2010. Refiner inputs were up just 1,000 bpd to 919,000 bps, with exports up 1,000 at 58,000 bpd. That caused stocks to rise 250,000 barrels to 23.973 million. Most of that stock increase was in the Midwest, up 420,000 barrels, with the East Coast down 81,000 barrels and the Gulf dropping 292,000 barrels.
Sep 24 Corn closed at $3.82 3/4, down 6 cents, currently down 3/4 cents
Nearby Cash was $3.73 3/4, down 6 1/4 cents,
Dec 24 Corn closed at $3.99 3/4, down 5 1/4 cents, currently down 3/4 cents
Mar 25 Corn closed at $4.15 3/4, down 4 1/2 cents, currently down 1/2 cents
New Crop Cash was $3.61 5/8, down 6 cents,
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