Corn Market Down at Midday, Weakness in Ethanol Futures

Corn futures are showing 2 to 3 cent losses in most nearby contracts at midday. The ethanol market is weaker, following a slight uptick in stocks. Weakness in wheat is also dragging on corn. This morning’s EIA report showed ethanol production in the week of 4/19 picking up by 32,000 barrels per day to 1.048 million bpd. That was the largest weekly output since early January. Stocks were up just 71,000 barrels to 22.747 million barrels, with the Gulf and East Coast the only regions seen higher.

May 19 Corn is at $3.49 1/4, down 2 cents,

Jul 19 Corn is at $3.58 1/4, down 2 cents,

Sep 19 Corn is at $3.66 1/4, down 2 cents

Dec 19 Corn is at $3.77 1/2, down 2 1/4 cents

--provided by Brugler Marketing & Management




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