Corn futures saw gains ranging from 4.75 to 8.25 cents on Wednesday, with the May 26 Corn closing at $4.51 ¼ per bushel, up 8.25 cents. The national average cash corn price increased by 8.5 cents to $4.14 ¾. These increases come as rain is expected in the central and eastern Corn Belt, although significant planting delays are not yet anticipated.
Ethanol production rose to 1.12 million barrels per day for the week ending April 10, marking an increase of 4,000 barrels compared to the previous week. Ethanol stocks increased by 646,000 barrels to 26.699 million barrels, while exports decreased by 122,000 barrels per day to 81,000. The upcoming Export Sales data, set to release on Thursday, is anticipated to indicate corn sales ranging from 0.8 to 1.8 million metric tons for old crop and 0 to 150,000 metric tons for new crop.
