Corn Bulls Taking Some Gains Back on Thursday AM Trade

Group 1 - Corn prices are showing steady to 2 cents higher trade on Thursday morning after posting losses of 5 to 7 cents across most contracts at the close on Wednesday [1] - Open interest decreased by 10,627 contracts midweek, indicating some long positions were taken for profits [1] - The national average Cash Corn price fell by 6.5 cents to $3.98 3/4 [1] Group 2 - Weekly EIA data revealed a record ethanol production of 1.126 million barrels per day for the week ending November 28, marking a week-over-week increase of 13,000 barrels per day [2] - Ethanol stocks rose by 543,000 barrels to a total of 22.511 million barrels, while exports increased by 48,000 barrels per day to 170,000 barrels per day [2] - Refiner inputs of ethanol dropped by 28,000 barrels per day to 857,000 barrels per day [2] Group 3 - Export sales for corn during the week of October 30 are anticipated to be between 0.8 to 2.5 million metric tons [3] - December 25 Corn closed at $4.31 1/2, down 6.5 cents, while March 26 Corn closed at $4.43 1/2, also down 6.5 cents [4] - Nearby Cash Corn price was recorded at $3.98 3/4, down 6.5 cents, with May 26 Corn closing at $4.50 3/4, down 6.75 cents [4]