Corn prices are down 3 to 4 cents early on Wednesday morning. Futures saw some late day strength, as contracts closed with gains of 2 to 5 cents across most nearbys. Contracts closed 7 to 10 cents off the early session lows. Preliminary open interest was up 10,489 contracts on Tuesday. The CmdtyView national average Cash Corn price was down 5 cents at $3.79.
The monthly NASS Grain Crushing report showed 455.82 million bushels of corn used in ethanol production during July. That was a 2% increase from June but down 5.8% from last year. The full marketing year shipments in the first 11 months of the MY are at 4.978 bbu, 20 mbu below the same period last year.
