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Nick Paumen at CHS Hedging said, “We continue to slip lower as some of the headlines risk/war premium comes out of the market. The funds were heavy sellers of 21,000 contracts yesterday to put them at an estimated long 265,900 contracts, so there is more room to sell.” Austin Schroeder at Barchart.com said, “Weekly EIA data from Wednesday morning showed an 8,000 barrel per day increase ethanol output in the week ending on May 1, taking the total to 1.017 million bpd. Ethanol stocks were up 139,000 barrels to 26.02 million barrels. Ethanol stocks were down 31,000 barrels per day to 139,000 bpd, with refiner inputs down 15,000 bpd to 902,000 bpd.”