Corn Closes with Tuesday Losses
The corn market ended the Tuesday session with losses after a stronger overnight session. Contracts were down fractionally to 1 ¼ cents on the day. The national average Cash Corn price from cmdtyView was up ¼ cent at $4.05 1/2.
A report on Tuesday initially indicated there wouldn’t be a finalization of guidance for the 45Z Clean Fuel Production tax before the Biden administration left office. Later in the day, according to a DTN report, clarification from the Treasury Department indicated there would be guidance before they left office.
USDA’s Grain Crushing report for October grind showed 460.49 mbu of corn used in ethanol production during the month. That was down 0.4% from last year but a 3% hike from the same month last year.
Dec 24 Corn closed at $4.23 1/4, down 1 1/4 cents,
Nearby Cash was $4.05 1/2, up 1/4 cent,
Mar 25 Corn closed at $4.32 1/4, down 1/4 cent,
May 25 Corn closed at $4.38, down 1 cent,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.