Corn futures are trading with contracts 8 to 9 cents higher so far at midday, with spillover support from near limit gains is wheat giving an assist. The CmdtyView national average Cash Corn price is 8 1/2 cents higher at $4.16 1/4.
The next 7 days are remaining dry for much of the Western Corn Belt according to NOAA’s 7-day QPF, with just trace amounts in parts of MN, IA, NE, MO, and the Dakotas. The Eastern Corn Belt is a little wetter, with 0.5-1.5 inches expected in parts of IL, IN, and OH.
Weekly EIA data from this morning showed a total of just 1.04 million barrels per day of ethanol production in the week ending on July 10, a 53,000 bpd drop from the week prior. Stocks, meanwhile, rose 463,000 barrels to 24.391 million barrels. Exports dropped 119,000 bpd to 81,000 bpd in that week, with refiner inputs of ethanol up just 5,000 bpd to 906,000 bpd.
Sep 26 Corn is at $4.47, up 8 1/2 cents,
Nearby Cash is at $4.16 1/4, up 8 1/2 cents,
Dec 26 Corn is at $4.69, up 8 1/2 cents,
Mar 27 Corn is at $4.83 3/4, up 8 cents,
New Crop Cash is at $4.19 1/4, up 8 1/2 cents,
