Corn Market Under Pressure Ahead of Export Sales

Corn was 4 3/4 to 5 1/4 cents lower after Wednesday’s trading. Trading will resume at 8:30 AM CST. Ethanol production was higher wk/wk for the 10th week in a row at 1.059 million barrels per day in the week ending 11/22. Ethanol stocks at the end of that week 20.077 million barrels, which was a 237,000 barrel reduction wk/wk. For 7 of the last 10 weeks stocks have decreased, for a 10-week total reduction of 2.223 million barrels. Trade ideas for this morning’s USDA weekly Export Sales report are running 400,000 to 900,000 MT. There were zero delivery notices against December corn on first notice day. The oldest long is dated 5/17/19.

---provided by Brugler Marketing & Management




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