Commodities
Corn Prices Slide Amid Rising Ethanol Output
Corn futures took a hit on Wednesday, falling by 8 to 9 cents across various contracts. This decline comes after a brief bounce on Tuesday.
The CmdtyView national average Cash Corn price also dropped by 8 1/2 cents to $4.28 1/4.
A notable development in the ethanol market was reported, with EIA's weekly Petroleum Status Report showing an increase of 39,000 bpd in ethanol production for the week ending July 24th. This brought the total to 1.133 million bpd, just shy of a record high.