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Corn futures rose by 4 to 6.5 cents on Thursday, with the December contract closing at $4.41 1/2. The CmdtyView national average Cash Corn price increased by 6.5 cents to $4.02 1/2.
Data from the EIA reported ethanol production at 1.075 million barrels per day for the week ending November 7, down 48,000 bpd from the previous record. Corn export sales for the week of September 25 totaled 1.394 million metric tons, while South Korea purchased 130,000 MT and Taiwan bought 65,000 MT of U.S. corn.
Brazil’s CONAB has estimated the country’s corn crop at 138.84 million metric tons, an increase of 0.56 million metric tons from October.
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