Corn

Corn futures closed the Wednesday session with most contracts within a penny of UNCH. Nearby were lower, with back months higher. World ending stocks are expected to be cut by 3.73 MMT to 199.36 MMT on lower world production and US ending stocks in tomorrow’s monthly USDA report. The weekly EIA report showed daily ethanol production at 1.057 barrels per day during the week of 3/2. That was 13,000 bpd above the previous week. All regions showed a buildup in ethanol stocks, with a weekly increase of 165,000 barrels to 23.144 million barrels. The USDA is expected to show 1-1.5 MMT in old crop export sales for the week of March 1 tomorrow, with new crop at 0-100,000 MT.

Mar 18 Corn closed at $3.79 1/4, down 1/2 cent,

May 18 Corn closed at $3.87 1/4, down 1 cent,

Jul 18 Corn closed at $3.94 1/2, down 1 cent

Sep 18 Corn closed at $3.99 3/4, down 3/4 cent




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