Corn futures follow yesterday’s double digit gains with additional 3 to 4 cent gains overnight. NASS data shows the average price move following a quarterly grain stocks report is -4 cents, with futures dropping a penny on average after the Sept report. USDA saw 1.995 bbu of corn stocks on Sept 1. 2019/20 corn production was increased by 2.67 mbu to 13.620 bbu. NASS hiked their implied 3Q use by 205 million bushels from the number they published in June. Average daily ethanol production was 881,000 barrels per day for the week ending 9/25. Ethanol stocks were 19.691 million. Ethanol futures were 2.3 cents higher on Wednesday. Trade ideas for the USDA weekly Export Sales report are running 800,000 to 1.4 MMT.

--- provided by Brugler Marketing & Management