Corn

Corn futures are trading 1 to 2 cents lower this morning. They ended the Wednesday session with most contracts 1 to 2 1/4 cents lower. The weekly EIA report showed 1.034 million barrels per day of ethanol was produced during the week of 4/6. That was down 4,000 bpd from the previous week. On a bullish note, ethanol stocks dropped 579,000 barrels to the lowest level since early November (21.846 million barrels). Analysts are expecting the USDA to show 0.9-1.4 MMT of old crop export sales made during the week of 4/5 in this morning’s Export Sales report, with new crop at 0-300,000 MT.




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