Corn futures are continuing to decline, with contracts decreasing by 1 to 2 cents as of Tuesday midday. The CmdtyView national average cash corn price is at $3.97 1/4, down 1 3/4 cents.
In the week ending December 19, the EIA reported that ethanol production fell by 36,000 barrels to 1.095 million barrels per day. Ethanol stocks increased by 175,000 barrels to 22.528 million barrels, while exports rose by 28,000 barrels per day to 219,000 barrels per day. Refiner inputs of ethanol also increased by 6,000 barrels per day to 912,000 barrels per day.
Brazil’s December corn exports are projected at 6.35 million metric tons, unchanged from earlier estimates, according to ANEC.
