Corn Market Higher Ahead of Export Sales Data

Corn futures are trading 2 cents per bushel higher this morning. They ended Wednesday firm to 2 3/4 cents higher, up for the 8th day in a row in several contracts. Weekly EIA ethanol production hit 1.071 million barrels per day during the week of May 17. That was up another 20,000 bpd from last week and the largest weekly production this MY. Ethanol stocks rose 1.154 million to 23.404 million barrels. Analysts are expecting today’s Export Sales report to show 200,000-600,000 MT in old crop sales for the week of May 16, with new crop at 50,000-450,000 MT.

--provided by Brugler Marketing & Management

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