Corn is trading with steady to nearly penny higher trade on Thursday. Futures close with 1 to 3 ¼ cent gains on Wednesday. Preliminary open interest was up 7,116 contracts on Wednesday. The CmdtyView national average Cash Corn price was up 3 ¾ cents at $3.82 1/4. The average December corn close through October is now at $4.19 with just 7 days left for the harvest price discovery for crop insurance.
Weekly EIA data is still being released despite the government shutdown. Ethanol production rose another 38,000 barrels per day in the week that ended on 10/17, to 1.112 million barrels/day. That was close to a record. Stocks still saw a draw on the week, down 709,000 barrels to 21.919 million barrels. Refiner inputs of ethanol were down 4,000 bpd to 911,000, as ethanol exports were up 22,000 bpd to 130,000 barrels per day.
