Corn Futures Surge on Strong Demand

Corn futures experienced modest gains on Wednesday, with prices rising due to robust demand for ethanol production and exports. The national average cash corn price also increased, reaching three dollars and ninety-six and three-quarter cents. A significant private export sale to Mexico and record ethanol production, coupled with decreased ethanol stocks and increased exports, further boosted the market. Speculative funds added over thirty-four thousand contracts to their long positions in corn futures and options, indicating growing confidence in the market. Recent purchases by South Korea and projected increases in Brazils December corn exports suggest continued strong global demand for corn.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.