Corn futures are showing losses of 5 to 6 cents across most contracts on Wednesday. The CmdtyView national average Cash Corn price is down 5 1/2 cents at $3.99 3/4.
Weekly EIA data from this morning showed a record ethanol production total in the week ending on November 28, totaling 1.126 million barrels per day, a 13,000 bpd increase wk/wk. Stocks of ethanol rose 543,000 barrels to 22.511 million. That came as the 48,000 bpd increase to exports (170,000 bpd) wasn’t enough to offset the increased output and 28,000 bpd drop in refiner inputs of ethanol (at 857,000 bpd).
