U.S. Ethanol Stocks Hit 2-Year Low, Production Surges

U.S. Ethanol Stocks Hit 2-Year Low, Production Surges

Trading activity for wheat midds was steady in Buffalo and central states. Participants reported that the market was quiet with very slow business today.

Most CME grain prices witnessed an upward trend on Wednesday. The only grain that experienced a decrease was October soymeal, which dropped by $2.50 and closed at $395.90/st. November soybeans increased by $0.0325 and settled at $13.49/bu. Additionally, December corn rose by $0.0575, reaching $4.82/bu, and December wheat surged by $0.0975 to $5.97/bu. Wheat outperformed all grains today, fueled by renewed conflicts in the Black Sea. While soybeans benefited from the strong performance of corn and wheat but were limited by concerns over demand and upcoming seasonal harvest pressure.

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