Corn Continues Lower on Wednesday

Corn futures are trading 4 to 5 1/4 cents lower at midday. 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 is at $3.60 3/4, down 5 1/4 cents,

DEC 19 Corn is at $3.72 1/4, down 4 1/4 cents,

MAR 20 Corn is at $3.85 3/4, down 4 1/4 cents

MAY 20 Corn is at $3.93 3/4, down 5 cents

---provided by Brugler Marketing & Management

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