Corn futures rose 2 to 3 cents on Thursday, supported by strength in wheat. The CmdtyView national average cash corn price increased by 2 1/4 cents, reaching $3.87 3/4.
In the week ending January 16, U.S. ethanol production totaled 1.119 million barrels per day, a decrease of 77,000 barrels from the previous week’s record. Ethanol stocks rose by 1.266 million barrels to 25.739 million barrels, primarily on the East Coast and Gulf. Exports also increased by 99,000 barrels per day, nearing a record at 218,000 barrels per day, while refiner inputs rose to 852,000 barrels per day.
On March 26, corn closed at $4.24, up 2 1/4 cents. Nearby cash corn reached $3.87 3/4, also up 2 1/4 cents, with May 26 and July 26 corn closing at $4.32 1/4 and $4.38 1/2, respectively.
