Corn bulls showed up on Wednesday to defend the $4 level on September, but fell short by the close. Contracts were still 1 to 2 cents in the green at the close. The front month CmdtyView national average Cash Corn price was up 1 ½ cents at $3.85 1/2.
Wednesday morning’s weekly EIA report showed an uptick in production of 9,000 barrels per day in the week ending on July 4 to 1.085 million barrels per day. Stocks, meanwhile, were down 158,000 barrels to 23.959 million barrels despite a 10,000 bpd drop in exports to 121,000 barrels and 23,000 bpd reduction in refiner inputs to 902,000 bpd.
