Corn price action is up 1 to 2 cents early on Thursday. Futures posted 2 to 3 ½ cent gains across most contracts on Wednesday. Open interest was down 14,323 contracts, mainly in the March, dropping 34,798 contracts ahead of FND. The CmdtyView national average Cash Corn price was up 3 cents to $3.98. With just 2 days left for price discovery for the spring base price for Crop Insurance, December corn has averaged $4.61 this month. That would be down 98 cents from last year.
EIA data from Wednesday morning showed a total of 1.113 million barrels per day of ethanol produced in the week of 2/20, down just 5,000 bpd from the week prior. Ethanol stocks were up 58,000 barrels to 25.646 million barrels. Ethanol stocks slipped 36,000 bpd to 141,000 bpd, as refiner inputs were steady at 866,000 bpd.
