Corn futures are trading 3 to 3 1/4 cents lower at midday on profit taking ahead of the New Year. This week’s EIA report indicated ethanol production for the week ending 12/22 increasing 13,000 barrels per day from the week prior to 1.09 million bpd. That is the second largest weekly production on record. Stocks of ethanol were trimmed by 289,000 barrels to 22.031 million barrels, as all regions except the Gulf saw decreasing stocks. Traders expectations for Friday’s Export Sales report show a wide range of old crop corn sales at 0.6-1.1 MMT, with 0-50,000 MT seen for new crop.

Mar 18 Corn is at $3.50 3/4, down 3 cents,

May 18 Corn is at $3.59, down 3 1/4 cents,

Jul 18 Corn is at $3.67 1/2, down 3 cents

Sep 18 Corn is at $3.75, down 3 cents

Market Commentary provided by:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
Fax: 402-289-2353

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