Corn futures closed the Wednesday session with contracts steady to 3 cents higher across the board. The national average Cash Corn price from cmdtyView was up 3 cents at $3.86 per bu. The average close for December corn futures so far in October is $4.17. That is 49 cents below the February base insurance price.
The USDA reported a private export sale of 100,000 MT of corn to unknown destinations this morning for 2024/25 shipment. Export Sales data will be released on Thursday morning, with a Reuters survey of traders looking for a range of 2.2-3.3 MMT of corn sold for 2024/25 and 500,000 to 850,000 MT sold for 2025/26 in the week that ended on October 17.
The weekly EIA Petroleum Status report showed ethanol production totaling 1.081 million barrels per day during the week of 10/23, up 39,000 bpd from the week prior. Stocks were back down 52,000 barrels to 22.223 million barrels. Refiner inputs of ethanol totaled 915,000 bpd in that week, up 3,000 bpd from the week prior. Gasoline product supplied in that week was at 8.838 million barrels per day, which was an increase from the week prior.
Dec 24 Corn closed at $4.19, up 2 1/2 cents,
Nearby Cash was $3.86, up 3 cents,
Mar 25 Corn closed at $4.32, up 2 3/4 cents,
May 25 Corn closed at $4.39 3/4, up 3 cents,
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