Corn futures are experiencing losses of 8 to 10 cents on Wednesday, with May futures seeing 304 deliveries, all from the ADM house account. The CmdtyView national average Cash Corn price has decreased by 10 cents to $4.28 3/4.
In the energy market, crude oil prices have dropped by $6.71 midday, amid reports of the US and Iran nearing a memorandum of understanding aimed at ensuring safe passage through the Strait of Hormuz and addressing ongoing conflict.
According to the latest EIA data, ethanol output increased by 8,000 barrels per day to a total of 1.017 million bpd for the week ending May 1. Ethanol stocks rose by 139,000 barrels to 26.02 million, while refiner inputs decreased by 15,000 bpd to 902,000 bpd.
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