Corn futures are experiencing slight fluctuations, with July contracts down ¼ cent at $4.19 ¼ and nearby cash prices steady at $3.86 ¼. On June 5, the CmdtyView national average cash corn price holds at $3.86 ¼.
In the week of June 5, ethanol production remained unchanged at 1.108 million barrels per day, while ethanol stocks decreased by 154,000 barrels to 24.452 million. Ethanol exports rose to 155,000 barrels per day, an increase of 20,000 bpd, and refiner inputs also climbed by 8,000 bpd to 907,000 bpd.
The USDA is set to release its monthly WASDE report on Thursday, with expectations of a 6 million bushel reduction in old crop corn carryout to 2.136 billion bushels and a new crop estimate of 1.947 billion bushels, reflecting a potential 10 million bushel decrease.
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