Corn futures are trading 6 to 7 ¼ cents higher on Wednesday, while the national average cash corn price is down 1 3/4 cents at $4.35 1/2. The ProFarmer Crop Tour reported Nebraska corn yields averaging 163.61 bushels per acre, an 8.85% decline from last year, and 5.6% below the three-year average. Indiana yields fell to 183.54 bushels per acre, down 5.3% from last year and 2.1% below the three-year average, with Illinois results expected to be announced later today.
Weekly EIA data indicated a drop in ethanol production of 28,000 barrels per day for the week ending August 14, totaling 1.089 million barrels. Ethanol stocks rose by 323,000 barrels to 25.121 million barrels, while refiner inputs increased by 11,000 barrels per day to 926,000 bpd. USDA’s Export Sales data will be released Thursday morning, with expectations of 0-500,000 MT of old crop corn sales and new crop sales between 0.5 to 1.3 million metric tons.
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
