Corn futures were 2 to 3 cents across most nearby contracts on Thursday. Spillover from strength in wheat was supportive. The CmdtyView national average Cash Corn price was up 2 1/4 cents at $3.87 3/4.
Weekly EIA data showed a total of 1.119 million barrels per day of ethanol production in the week ending on January 16. That was a drop of 77,000 barrels per day from the pervious week’s all time record. Stocks were up 1.266 million barrels to 25.739 million barrels, as the east coast and Gulf saw a majority of the build. Exports did see an uptick of 99,000 bpd from the week prior, nearing a record at 218,000 bpd. Refiner inputs of ethanol were also higher, up 11,000 bpd to 852,000 bpd.
