Corn Closes Lower on Wednesday

Corn futures closed 6 1/4 to 7 3/4 cents lower in the front months on Wednesday. This morning’s EIA report for the week ending August 9, showed the weekly ethanol production at 1.045 million barrels/day, a 5,000 bpd increase. Ethanol stocks ballooned 766,000 barrels to 23.883 million barrels as production exceeded consumption. Each of the five regions saw a jump from last week, with the Midwest and West Coast showing the largest increase. Ahead of the Thursday morning USDA Export Sales report, corn export sales estimates are running 100,000-300,000 metric tons (MT) for 18/19 and 100,000-400,000 MT for 19/20.

SEP 19 Corn closed at $3.59, down 7 cents,

DEC 19 Corn closed at $3.70 1/4, down 6 1/4 cents,

MAR 20 Corn closed at $3.83 1/4, down 6 3/4 cents

MAY 20 Corn closed at $3.91, down 7 3/4 cents

-- provided by Brugler Marketing & Management




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