Corn Prices SOAR Despite Production SHOCK! What Now?
Did you know that despite a significant drop in ethanol production from an all-time record, corn prices are still on the rise? Corn futures surged several cents across nearby contracts on Thursday, propelled by strength in wheat and a notable uptick in ethanol exports nearing their own all-time highs. However, weekly data revealed a substantial 77,000 barrel per day decrease in ethanol production from the previous week's peak, complicating the market outlook. Adding to this complexity, a crucial legislative push to allow year-round E15 ethanol access unfortunately failed to pass in the House funding bill, introducing further uncertainty for the agricultural sector. For a comprehensive understanding of these dynamic market forces and their potential impact, be sure to subscribe to our channel for ongoing expert analysis.
Tags/Hashtags: #corn #ethanol #agriculture #usda #eia #exports #cmdtyview #eia #barchart #usda #corn
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