Corn Holding onto Midweek Gains as Ethanol Output Improves

Corn futures are fractionally to 3 cents higher across the front months on Wednesday. The CmdtyView national average Cash Corn price is down 3 1/4 cents at $4.14 3/4. 

The average close for December corn futures in October has been $4.79, as there are just 3 days left for the harvest price crop insurance discovery period.

EIA’s weekly report showed ethanol production in the week of October 23 increasing 24,000 barrels per day to 1.118 million bpd. Ethanol stocks were down 35,000 barrels to 24.523 million barrels. Refiner inputs of ethanol were up 16,000 bpd to 907,000 bpd, despite the lowest gasoline product supplied number (8.358 million bpd) since February. 

The NOAA 7-day forecast shows anywhere from 1 to 2 inches of precip expected from just east of the Rockies to the Appalachians. The heaviest totals are seen along the Missouri River in SD, NE, IA, KS and MO.

Dec 26 Corn is at $4.51 3/4, up 3 cents,

Nearby Cash is at $4.14 3/4, up 3 1/4 cents,

Mar 27 Corn is at $4.65, up 2 1/4 cents,

May 27 Corn is at $4.73, up 1 3/4 cents,

Dec 27 Corn is at $4.90 1/2, up 1/2 cent,

'27 New Crop Cash is at $4.45 3/4, up 1 1/4 cents,

On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.