Corn Firm on Wednesday
BRUG - Wed Aug 21, 5:23PM CDT

Corn futures were up 1 1/2 to 3 cents on Wednesday. USDA reported a private export sale of 328,000 MT of corn for 19/20 delivery to Mexico through their daily reporting system this morning. Traders are expecting a wide range of old crop export sales in the week of August 15 at 50,000-400,000 MT, with new crop at 200,000-600,000 MT. Weekly ethanol data from EIA showed production in the week that ended on August 16 at 1.023 million barrels per day. That was down 22,000 bpd from the previous week and the lowest output since early April. Ethanol stocks dropped 516,000 barrels to 23.367 million barrels. Reports on Tuesday showed ethanol plants idling or slowing production across the country due to poor margins. The ProFarmer Midwest Crop Tour found a Nebraska average yield of 172.55 bpa vs. 179.17 last year. They were touring IA and IL today. Today is your last chance to submit results for the Brugler Virtual Corn Tour!

SEP 19 Corn closed at $3.62 1/2, up 3 cents,

DEC 19 Corn closed at $3.70 1/4, up 1 1/2 cents,

MAR 20 Corn closed at $3.82 1/2, up 1 1/4 cents

MAY 20 Corn closed at $3.90 1/4, up 1 1/2 cents

--- provided by Brugler Marketing & Management




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