The US corn markets were firmer again on Wednesday. September 25 contracts gained 4.00 US cents to 405.25 US cents/bushel, while December 25 and March 26 futures each gained 4.25 US cents to close at 424.00 US cents and 441.00 US cents/bushel respectively.
Impulses came from the ethanol side. The weekly EIA statistics showed a slight increase in US ethanol production to 1.087 million barrels per day, an increase of 2,000 barrels compared to the previous week. At the same time, inventories fell by 324,000 barrels to 23.635 million barrels. Despite a slight decline in exports and subdued domestic demand, this indicates that industrial use remains stable.
Market participants are eagerly awaiting the weekly US export data, which will be published on Thursday. Exports of between 0.5 and 1.2 million tons are expected for existing stocks, while volumes of between 400,000 and 900,000 tons are expected for new contracts.
On Euronext in Paris, the August contract gained slightly by €0.75 to €206.50/t.
