Corn futures are up 4 to 5 ¼ cents across most contracts on Wednesday trade. The CmdtyView national average Cash Corn price is up 4 1/4 cents at $3.87 1/4.
The market will round out the week on Thursday, with Friday off in observance of Juneteenth.
EIA’s weekly update showed a total of 1.102 million barrels per day of ethanol production in the week of June 12, down 6,000 bpd from the week prior. Ethanol stocks were up just 22,000 barrels to 24.474 million barrels. Ethanol exports were back down 27,000 bpd to 128,000 bpd, with refiner inputs of ethanol up 13,000 bpd to 920,000 bpd.
The forecast continues to see precipitation over a majority of the US growing region, with at least an inch expected in much of the Western Corn Belt. Moving east and south, rainfall totals of 2 to 4 inches are seen from eastern NE to western PA and southern areas of MN/WI/MI to the Gulf.
Jul 26 Corn is at $4.18 3/4, up 5 cents,
Nearby Cash is at $3.87 1/4, up 4 1/4 cents,
Sep 26 Corn is at $4.27 3/4, up 5 1/4 cents,
Dec 26 Corn is at $4.47 1/2, up 5 cents,
New Crop Cash is at $4.01 1/2, up 3 3/4 cents,
