11/20/2024 8:00 am

Corn is slightly lower this morning in consolidating type trade.

Weekly EIA report today is expected to show weekly ethanol grind near record levels yet (range 1,090- 1,120 thousand barrels vs 1,113 last week). Stocks are expected to be in the 21,500-22,500 t/bl range vs 22,039 last week.

Corn basis levels holding steady as US farmer selling stagnates. CZ/CH spread hovering near -10 cents with FND next week.

Support for March corn toward the $4.31-4.30 with resistance at $4.45-4.50.

 9/12/2024