Corn futures are mostly 2 to 2 cents higher this morning. They ended Wednesday with most contracts 1 to 3 cents in the red, pressured by soybeans and meal. The EIA report indicated that 1.058 million barrels per day of ethanol was produced in the week that ended 5/11. That was 18,000 bpd more than the previous week and the largest weekly production (and implied corn consumption) total since mid-February. Ethanol stocks were 21.505 million barrels, down 459,000 barrels from the previous week despite the larger production. The USDA Weekly Export Sales report this morning is expected to show 0.7-1 MMT in old crop corn sales, with 50,000-200,000 MT for new crop in the week of May 10.

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