Corn futures posted losses of 1 to 2 ¾ cents in the front months, with deferred contracts steady to ¾ cent higher. The CmdtyView national average Cash Corn price was down 1 3/4 cents at $3.78 1/4.
EIA’s weekly update showed a total of 1.09 million barrels per day of ethanol production in the week of June 19, down 12,000 bpd from the week prior. Ethanol stocks were up 111,000 barrels to 24.585 million barrels. Ethanol exports were down 5,000 bpd to 121,000 bpd, with refiner inputs of ethanol up 3,000 bpd to 923,000 bpd.
USDA’s Export Sales report will be updated on Thursday morning with traders surveyed by Reuters looking for old crop sales to be in a range of 0.5 to 1.3 MMT in the week ending on 6/18. New crop business is seen in a range of 0.3 to 1 MMT.
Jul 26 Corn closed at $4.07, down 2 3/4 cents,
Nearby Cash was $3.78 1/4, down 1 3/4 cents,
Sep 26 Corn closed at $4.15 3/4, down 2 cents,
Dec 26 Corn closed at $4.34 3/4, down 2 1/2 cents,
New Crop Cash was $3.90 3/8, down 2 cents,
