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Austin Schroeder

Corn Pulling Back as Traders Square Up Ahead of USDA Report

USDA CmdtyView

Corn price action is down 4 to 5 cents so far on Friday morning as traders pull back ahead of the USDA reports. Futures close Thursday with gains of 5 to 7 cents across the board. There were 163 deliveries issued against September futures overnight. The CmdtyView national average Cash Corn price was up 6 cents at $4.87.

The weekly EIA report showed ethanol production at 1.099 million barrels per day in the week of 9/4, down 11,000 bpd from the week prior. Stocks saw a 152,000 barrel increase to 25.187 million barrels, which is 10.29% above the same week last year.

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