Corn futures are experiencing minor losses on Wednesday, with July 26 Corn priced at $4.08 3/4, down 1 cent, and Nearby Cash at $3.80 3/4, down 1/2 cent. The CmdtyView national average Cash Corn price is also down by 1/2 cent, sitting at $3.80 3/4.
The U.S. Energy Information Administration (EIA) reported ethanol production at 1.09 million barrels per day for the week of June 19, a decrease of 12,000 bpd from the prior week. Ethanol stocks rose by 111,000 barrels to 24.585 million barrels, while exports declined by 5,000 bpd to 121,000 bpd, and refiner inputs increased by 3,000 bpd to 923,000 bpd.
The USDA’s Export Sales report, due Thursday morning, is expected to show old crop sales ranging from 0.8 to 1.2 million metric tons for the week ending June 18, with new crop sales estimated between 300,000 and 600,000 metric tons.
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