Ethanol Demand Pushes Corn Up
BRUG - Thu Nov 14, 12:23PM CST

Corn futures are rebounding after Wednesday’s losses, with fractional midday gains. The EIA posted up to date ethanol production numbers for the week ending 11/8. Ethanol production averaged 1.03 million barrels per day over the week, which was another uptick in daily production, up 16,000 barrels wk/wk. Weekly ethanol production has been rising for the last 7 weeks. While production increased ethanol stocks decreased to 20.985 million barrels. Most of the usage came from the Midwest region, where ethanol stocks fell by 333,000 barrels, the gulf region’s ethanol stocks were 255,000 barrels less wk/wk while the east coast used 178,000 barrels more than their production.

DEC 19 Corn is at $3.76, up 3/4 cent,

MAR 19 Corn is at $3.85, up 1 cent,

MAY 20 Corn is at $3.90 1/2, up 3/4 cent

JUL 20 Corn is at $3.96 1/2, up 3/4 cent

---provided by Brugler Marketing & Management




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