Corn Market News and Commentary

Corn futures are trading fractions to either side of UNCH this morning. They saw 1 to 2 cent gains in most contracts on Wednesday, despite weak ethanol data. Support was from the lower dollar and higher ethanol prices, which followed crude (up 5.33% on the day). The weekly EIA report indicated ethanol production in the week of January 4 dropping another 11,000 barrels per day to 1 million bpd. That is the lowest production total since April 20 of last year. Stocks were up for the second week in a row, this time by 92,000 barrels to 23.254 million barrels. The Gulf and West Coast were the only regions to show reductions. --provided by Brugler Marketing & Management




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