US ethanol production up

Euronext corn couldn't escape bearish guidance from wheat and continued to fall midweek. On the CBoT, the bears also took the lead and caused losses of up to double digits. For the front month, it went from $17.25 cents/bushel to the red to $540.25 cents/bushel. Here, too, market observers blamed profit-taking in particular for the correction. The latest data on US ethanol production was released yesterday. Accordingly, the quantities produced have risen to 24,000 barrels on a daily average. Inventories are up 62,000 barrels to 23.22 barrels. US corn is used primarily for the production of ethanol, making the producers among the most important buyers of the grain.

VR Agrar
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