Corn price action is hovering just above unchanged on Thursday morning, with gains of 1 to 2 cents. Futures failed to see much excitement following the US/Japan trade announcement, as contracts were heavy for much of the session and closing with fractional to penny losses. Preliminary open interest rose 13,678 contracts, suggesting modest selling interest. The CmdtyView national average new crop Cash Corn price was down 1/2 cent at $3.75.
EIA data showed a total of 1.078 million barrels per day of ethanol production in the week ending on July 18. That was a decline of 9,000 bpd from the week prior. Stocks were up 809,000 barrels to 24.444 million on the week.
