Corn

Corn futures are currently 1-2 cents higher on Thursday since ending the Wednesday session with fractional gains. Wednesday 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 this morning's report are showing 0.7 to 1 MMT in old crop sales and 150,000 to 400,000 MT in new crop sales. That comes following last week's report that showed 936,440 MT in 17/18 sales.




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