Commodities
Corn Futures Gain on Crop Tour Results, EIA Data
Corn futures are trading higher across most contracts on Wednesday, with prices up 6 to 7 ¼ cents. The CmdtyView national average Cash Corn price is down $0.0175 at $4.35 1/2.
The ProFarmer Crop Tour results showed Nebraska corn yields averaging 163.61 bushels per acre, down 8.85% from last year and 5.6% below the three-year average. Indiana yields came in at 183.54 bpa, down 5.3% from a year ago and 2.1% below the three-year average.
Weekly EIA data showed a 28,000 barrel per day drop in ethanol production for the week ending August 14 to 1.089 million barrels. Stocks were up 323,000 barrels to 25.121 million barrels.