Corn futures increased on Wednesday, with contracts rising 2 to 6 cents; July corn was up 2 cents, closing at $4.33 1/2. The CmdtyView national average Cash Corn price also rose by 1/4 cents, reaching $4.08.
The weekly EIA report indicated a drop in ethanol production by 11,000 barrels per day to 1.109 million barrels per day, while ethanol stocks increased by 386,000 barrels to 24.12 million barrels. Ethanol exports jumped 12,000 barrels per day to 163,000 bpd, and refiner inputs rose by 5,000 bpd to 910,000 bpd. The government will observe Juneteenth on Thursday, delaying Export Sales data to Friday, where traders anticipate corn bookings of 600,000 MT to 1.2 MMT for the week ending June 12.
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