Corn Futures Lower after Wednesday Trades

Corn futures finished 2 1/2 to 3 1/4 cents in the red. The weekly EIA report stated ethanol plants produced 1.060 million barrels per day through the week ending 11/29. That was up 1,000 bpd from the previous week and closing out the average monthly production through November at 1.039 mbpd. Ethanol stocks rose by 362,000 barrels to 20.639 million barrels. All regions, save the Rocky Mountains were higher. Estimates ahead of tomorrow’s USDA report for weekly export sales range from 500-900 thousand MT. Traders contacted by a major wire service expect Stats Canada to reduce their 2019 Canadian corn production estimate on Friday by about 400,000 MT from the September figure.

DEC 19 Corn closed at $3.68 3/4, down 3 1/4 cents,

MAR 19 Corn closed at $3.78 1/2, down 2 3/4 cents,

MAY 20 Corn closed at $3.84 1/2, down 2 3/4 cents

JUL 20 Corn closed at $3.89 1/4, down 2 1/2 cents

---provided by Brugler Marketing & Management

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