Corn futures ended the midweek session with contracts closing 1 ½ to 3 ½ cents. The national average Cash Corn price from cmdtyView is up by 2 ¼ cents at $3.81 1/4 per bu.
USDA reported a private export sale of 180,000 MT of corn to Mexico this morning via the daily reporting system. The weekly Export Sales report will be released Thursday morning, with traders expecting to see between 0.6 to 1.3 MMT in bookings during the week of 9/19.
Weekly EIA data showed a rather large drop in ethanol production of 55,000 barrels per day during the week that ended on September 20 to 994,000 barrels per day. That was the lowest production total since early May. Stocks dropped 261,000 barrels to 23.524 million barrels. Refiner inputs of ethanol was down 8,000 per day to 900,000 barrels, as gasoline product supplied was up a sharp 4.89% to 9.205 million barrels per day.
The Buenos Aires Grain Exchange expects the 2024/25 Argentine corn crop to total 47 MMT. USDA was at 51 MMT in the September WASDE.
Dec 24 Corn closed at $4.15 1/4, up 3 1/2 cents,
Nearby Cash was $3.82 1/4, up 3 1/2 cents,
Mar 25 Corn closed at $4.33 1/4, up 2 1/2 cents,
May 25 Corn closed at $4.43 1/2, up 2 1/4 cents,
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