Corn Market Commentary

Corn futures are currently fractionally lower after gaining 2 3/4 to 4 3/4 cents on Wednesday. The weekly ethanol update from EIA showed production in the week of 11/23 at 1.048 million barrels per day. That was up 6,000 bpd from the week prior even as margins are weaker. Stocks of ethanol were up 139,000 barrels to 22.93 million barrels, with the Midwest and Gulf seeing an increase. Barge bids were back above $4, up 4 cents per bushel on Wednesday and 28-30 cents higher than one year ago. The weekly Export Sales report from FAS on Thursday is expected by traders to show 400,000-950,000 MT in 18/19 corn sales for the week that ended on Nov 22.

--provided by Brugler Marketing & Management




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