US ethanol production at highest level since mid-January

Paris corn futures continued to edge higher yesterday. The front month noted a gain of EUR 4.75/ton to EUR 383.50/ton. The green signs prevailed at the CBoT. Sentiment was dampened by weak wheat market earnings. Today's USDA export sales report is expected to range from 0.8 to 1.8 million tons. The increasing delays in the Ukraine are currently giving US dealers hope that business could pick up speed again. Meanwhile, ethanol production hit its highest level since mid-January, averaging 1.049 million tons per day. The stocks have also increased slightly.