Corn futures are showing marginally mixed trade so far on Wednesday, as contracts are within a penny of unchanged across the front months.
EIA data from earlier this morning showed a total of 1.098 million barrels per day in production during the week of 8/16. That was a 26,000 bpd increase on the week. Stocks of ethanol were up 220,000 barrels to 23.574 million barrels. Part of that was due to the production increase, though refiner ethanol inputs were down 13,000 barrels per day to 919,000 bpd.
Traders are looking for Thursday’s Export Sales report to show between 100,000 and 300,000 MT of old crop corn sold in the week of August 15. New crop sales are expected to be in the middle of 0.5 to 1.025 MMT for that week.
The second day of the ProFarmer Crop Tour on Tuesday showed Indiana yields averaging 187.54 bpa. That was above the 180.89 bpa from last year and the 3-year average of 184.07 bpa. Nebraska yields averaged 173.25 bpa, larger vs. last year’s 167.22 bpa and the three-year average of 169.37 bpa.
Sep 24 Corn is at $3.75 1/4, up 1/4 cent,
Nearby Cash is at $3.63 3/4, up 3/4 cent,
Dec 24 Corn is at $3.98, unch,
Mar 25 Corn is at $4.17, down 3/4 cent,
New Crop Cash is at $3.55 1/8, up 1/2 cent,
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