Corn prices are steady to fractionally higher in the nearbys on Thursday. Futures closed with gains across most contracts on Wednesday, with contracts 1 to 2 ¼ cents higher on the day. Preliminary open interest suggested modest net new buying, up 13,539 contracts. The CmdtyView national average Cash Corn price was up 2 ¾ cents at $3.80 1/2. The average close for December futures so far this month has been $4.20.
EIA data from Wednesday morning showed a total of 1.071 million barrels per day of ethanol production in the week ending on 10/3. That was a rebound of 76,000 bpd on the week. Stocks were still tightening, down 44,000 barrels to 22.72 million barrels. Ethanol exports were up 50,000 barrels to 138,000 bpd, as refiner inputs of ethanol were down 13,000 bpd to 892,000 bpd.
