Corn prices are fractionally to 1 ½ cents higher so far on Wednesday morning. Futures rounded out Tuesday trade with the front months down as much as 2 cents, as contracts pulled back from some technical pressure. Preliminary open interest data rose 16,797 contracts on Tuesday. The CmdtyView national average Cash Corn price was at $3.77 at today’s close. The average close for December futures so far this month has been $4.20. The whole month average price is used to determine the harvest price for crop insurance.
EIA data will be released this morning, with some traders looking to see if ethanol production rebounds from the drop last week.
