- Mar-23 futures saw pressure early last week that took the contract to $6.66 per bushel, but prices appreciated by close of Thursday back above $6.80 per bushel.
S&D and fundamental factors
- Ethanol production was relatively flat the week ending Jan. 20, at just over 1 billion barrels per day, but stocks moved up sharply by 7 percent to 25.1 million barrels.
Weather, macro indicators, news
- Argentina received good rains as predicted last week. Much more is needed to keep the crop from falling below the mid-40 MMT range (where it likely stands now) vs. USDA’s 52 MMT projection.
IQ subscribers, log in to read more.
Leave A Comment