Corn prices are down 1 to 2 cents so far on Wednesday morning trade. Futures were 2 to 3 cents higher at the Tuesday close. The CmdtyView national average Cash Corn price was up 2 1/2 cents at $3.94 1/4.
The Treasury issued guidance on the 45Z tax credit on Tuesday morning. They still need to go through a public hearing process, which is scheduled for May.
EIA data will be released on Wednesday morning, with most expecting to see a reduction in ethanol output for the week ending on January 30.
A South Korean importer purchased a total of 65,000 MT of corn in a private tender on Tuesday.
Mar 26 Corn closed at $4.28 1/2, up 2 3/4 cents, currently down 2 cents
Nearby Cash was $3.94 1/4, up 2 1/2 cents,
May 26 Corn closed at $4.35 3/4, up 2 1/4 cents, currently down 1 1/2 cents
Jul 26 Corn closed at $4.42, up 2 1/4 cents, currently down 1 1/2 cents
