Corn Giving Gains Back Despite Record Ethanol Production

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 a ...