CME Group/Chicago HQ
Local: +1 312 930 1000
Toll Free: +1 866 716 7274
Global Customer Contacts
Product inquiries, website issues,
and specific questions
Phone: +1 312 930 2316
Toll Free: +1 800 331 3332
More CME Group Direct Lines
Phone list by department
May Corn finished up 3 3/4 at 732 1/4, 3/4 off the high and 7 3/4 up from the low. July Corn closed up 5 at 717. This was 9 up from the low and 3/4 off the high.
May corn traded higher on the day and reached levels not seen since February 6th. Light profit taking was seen early in the day as we hit key technical levels but corn managed to rebound off the lows on better than expected ethanol production data this morning. Ethanol production for the week ending March 15th averaged 809,000 barrels per day, up 1.5% vs. last week and down 9.4% vs. last year. Total ethanol production for the week was 5.7 million barrels. Corn used in last week's production is estimated at 84.95 million bushels, up from 83.68 the week prior. This crop year's cumulative corn used for ethanol production is 2.4 billion bushels. Corn use needs to average 88.06 million bushels per week to meet this crop year's USDA estimate of 4.5 billion bushels. Stocks as of March 15 were 18.47 million barrels. This is down 1.2% vs. last week and down 18.7% vs. last year. Implied demand fell to 6.08 million barrels, down from 6.24 the week prior. Imports rose last week after seeing no imports over the prior 2 week period.
May Rice finished down 0.065 at 14.655, 0.005 off the high and 0.015 up from the low.
*Disclaimer: The information in the Market Commentaries was obtained from sources believed to be reliable, but we do not guarantee its accuracy. Neither the information nor any opinion expressed therein constitutes a solicitation of the purchase or sale of any futures or options contracts.