Corn futures are experiencing gains of 8 to 9 cents across most contracts on Wednesday, with the CmdtyView national average cash corn price rising by 8.5 cents to $4.19 per bushel. Notably, July corn futures are trading at $4.74, also reflecting an increase of 8.5 cents.
Ethanol production for the week ending March 13 was reported at 1.093 million barrels per day, a decrease of 33,000 bpd from the previous week. Ethanol stocks rose by 827,000 barrels to reach 26.407 million barrels, while exports fell by 14,000 bpd to 174,000 bpd. The national average price for regular gasoline increased from $2.94 at the end of February to $3.72 for the week of March 16.
Looking ahead, export sales data will be released on Thursday, with expectations ranging from 0.6 to 1.8 million metric tons of old crop corn sales for the week ending March 12. New crop sales are anticipated to be between 0 and 100,000 metric tons.
