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Corn futures rose 4 to 5 cents on Tuesday, with December futures seeing 76 deliveries overnight. The CmdtyView national average Cash Corn price increased by 4.5 cents, reaching $4.04 3/4.
The rise is attributed to escalating threats from Russia to cut off Ukraine from sea access amid ongoing attacks on Russian-linked vessels. Additionally, EIA data for the week ending November 28 will be released on Wednesday, with expectations of potential slight declines in ethanol production from the previous week’s near-record levels.
As of now, December corn is priced at $4.37 1/2 (up 4 3/4 cents), March corn at $4.49 1/4 (up 4 1/4 cents), and May corn at $4.57 1/4 (up 4 cents).
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