Corn prices made minimal gains on the Chicago Board of Trade on Wednesday after their third-straight positive session. However, soybeans saw double-digit losses while wheat turned negative in anticipation of rains across much of the United States.
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CORN prices made minimal gains on the Chicago Board of Trade on Wednesday after their third-straight positive session. The United States Department of Agriculture reported a private export sale for 130,000 tonnes of old crop corn to unknown destinations. The U.S. Energy Information Administration said average daily ethanol production was down 80,000 barrels per day at 1.04 million BPD for the week ended April 17. Ethanol stocks grew by 249,000 barrels at 26.948 million. Rainfall is expected in Brazilian safrinha corn-growing areas over the next week, but more is needed for sustained crop development. SOYBEAN futures saw double-digit losses, alternating between gains and losses since last week and remaining rangebound since last month. D4 biodiesel RIN values reached their highest levels since 2022, supporting soyoil prices due to increased renewable demand for feedstocks. The central U.S. Plains to the East Coast will see between 25 to 75 millimetres of rain over the next week. ...