Corn

Corn futures ended the Wednesday session with fractional gains. A good part of the Midwest has already been hit by rain so far this week, with more expected in the coming days. This morning’s EIA report showed ethanol production in the week that ended on June 15 up another 11,000 barrels per day. Weekly production of 1.064 million bpd was the largest since mid- February. Ethanol stocks shrunk 527,000 barrels to 21.647 million barrels in that week, with the Midwest the only region seen increasing. Export sales estimates ahead of tomorrow's report are showing 0.7 to 1 MMT in old crop sales and 150,000 to 400,000 MT in new crop sales.

Jul 18 Corn closed at $3.54 1/4, up 1/2 cent,

Sep 18 Corn closed at $3.63 3/4, up 1/2 cent,

Dec 18 Corn closed at $3.75 3/4, up 1/4 cent

Mar 19 Corn closed at $3.85 1/4, up 1/4 cent




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