Corn futures increased by 2 to 4.5 cents on Wednesday, with the CmdtyView national average cash corn price rising 4 cents to $3.96 3/4. A private export sale of 177,055 metric tons of corn to Mexico was reported by USDA on the same day.
Data from the EIA indicated a record ethanol corn grind for the week ending December 12, reaching 1.131 million barrels per day, an increase of 26,000 barrels per day week-over-week. Ethanol exports also rose by 66,000 barrels per day to 191,000 barrels per day, while stocks declined by 157,000 barrels to 22.353 million barrels.
In global trade, a South Korean importer bought 268,000 metric tons of corn, and Brazil’s December corn exports are estimated at 6.35 million metric tons, reflecting a slight increase of 0.05 million metric tons from the previous week.
