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“The USDA reported daily export sales of 130,320 MT of corn for delivery to unknown destinations during the 2024/2025 marketing year,” Ryan Kelbrants of CHS Hedging said. “The EIA reported U.S. ethanol production dropped 30,000 bpd to 1.082 million bpd. Production was estimated to be down 20,000 bpd to up 10,000 bpd. Ethanol stocks dropped 720,000 barrels to 25.7 million barrels. Stocks were expected to be down 300,000 to up 100,000 barrels. Algeria is tendering for 240,000 MT of animal feed corn sourced from Argentina or Brazil.”
