Corn Closes Midweek in Red
Front month Corn futures ended the Wednesday session with 8 3/4 to 10 1/2 cent losses. There remain no delivery notices against the March corn futures. New crop trading left the board 2 to 3 1/4 cents lower with Sept a 16 1/4 cent premium to Dec.
Ethanol production averaged 849k barrels per day for the week ending 2/24. That wasn’t a full recovery to 911k bpd before the cold snap but was well above 659k LW. Continued weak production drew ethanol stocks even lower on the week to 22.425m barrels, down an additional 360k.
Traders’ corn export sales estimates are for between 400,000 and 800,000 MT for the week ending 2/25. New crop bookings are estimated between 50k and 500k MT.
--- provided by Brugler Marketing & Management
- ·Mar 21 Corn closed at $5.50 1/4, down 10 1/2 cents,
- ·May 21 Corn closed at $5.35 1/4, down 9 3/4 cents,
- ·Nearby Cash(cmdtyView) was $5.18 7/8, down 9 3/4 cents,
- ·Dec 21 Corn closed at $4.73 1/2, down 2 1/4 cents,
- ·New Crop Cash (cmdtyView) was $4.45 5/7, down 2 3/23 cents,
