Corn futures are experiencing a slight decline as of Wednesday midday, with contracts down by a penny. The national Cash Corn price stands at $3.76 ¼ per bushel, also down by a penny.
Data from the weekly EIA report indicates that ethanol production averaged 1.049 million barrels per day for the week ending September 13, reflecting a decrease of 31,000 bpd from the previous week. Ethanol stocks increased by 71,000 barrels, reaching 23.785 million barrels, while refiner inputs rose by 16,000 bpd to 908,000 bpd, and ethanol exports dropped by 26,000 bpd to 151,000 bpd.
Brazil’s corn exports for September are projected to hit 6.63 million metric tons (MMT), a slight increase from last week’s forecast of 6.47 MMT. In September of the previous year, Brazil exported 6.42 MMT.
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