Corn Bulls Continue Back to Push Higher on Thursday Morning

Group 1 - Corn prices are showing steady movement, with futures gaining between 2 to 4.5 cents recently, and the national average cash corn price rising by 4 cents to $3.96 3/4 [1] - Demand for corn remains strong, driven by record ethanol production and exports, with preliminary open interest increasing by 2,852 contracts [1] - Brazil's corn exports for December are estimated at 6.35 million metric tons (MMT), reflecting a slight increase of 0.05 MMT from the previous week [3] Group 2 - The EIA reported a record ethanol corn grind for the week ending December 12, increasing by 26,000 barrels per day to 1.131 million barrels per day, while ethanol stocks decreased by 157,000 barrels to 22.353 million barrels [2] - Ethanol exports rose by 66,000 barrels per day to 191,000 barrels per day, with refiner inputs increasing by 55,000 barrels per day to 906,000 barrels per day [2] - Commitment of Traders data indicates that spec funds added 34,142 contracts to the long side, flipping their net position to long in corn futures and options, totaling 23,270 contracts [3]