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Barchart
Barchart
Austin Schroeder

Corn Facing Wednesday Weakness

NE IN CmdtyView EIA Ethanol IA Petroleum

Corn futures are down 8 to 9 cents so far across most contracts on Wednesday, giving back the bounce from Tuesday. The CmdtyView national average Cash Corn price is down 8 1/2 cents at $4.28 1/4.

EIA’s weekly Petroleum Status Report showed ethanol production up another 39,000 bpd in the week of 7/24, to the second largest weekly total on record at 1.133 million bpd. Stocks were up 245,000 barrels in that week to 24.726 million barrels. Exports were back down 21,000 bpd to 137,000 bpd, with refiner inputs of ethanol up 1,000 bpd to 939,000 bpd.

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