Corn futures are trading mostly weaker through the midweek session’s midday. New crop contracts are down 2 1/2 to 3 cents so far. May corn is a penny and a half in the black but July is fractionally lower so far.  

USDA announced another large old crop corn sale to China this morning, this one for 1.224 MMT. Taiwan purchased 65k MT of Argentine corn via the tender.

EIA ethanol production data for the week ending 3/9 confirmed 971k bpd were produced. That was the largest weekly production of the 2021 calendar year. Stocks were also reported tighter, dropping 730k barrels on the week to a 16-week low 21.34m barrels.  

May 21 Corn  is at $5.55 3/4, up 1 1/2 cents,

Jul 21 Corn  is at $5.41 1/4, down 1/2 cent,

Nearby Cash is at $5.40, up 1 5/8 cents,

Dec 21 Corn  is at $4.75 1/4, down 2 1/2 cents,

New Crop Cash is at $4.47 3/5, down 2 1/2 cents,