December Corn finished down 5 1/2 at 638 1/2, 12 3/4 off the high and 1 up from the low. March Corn closed down 4 1/4 at 648 1/2. This was 1 up from the low and 11 1/2 off the high. The market closed moderately lower on the session and down 13 cents from the early peak as fears of a global economic slowdown helped spark fund selling interest in corn and other key commodity markets. Slow producer selling, some harvest delays and strong demand news from the weekly ethanol production update helped to provide support for the early bounce. Choppy trade for financial markets and continued fears of a sluggish global growth outlook helped to limit the early advance but the market still managed to push to a five session peak before the break. Ethanol production for the week ending October 14th averaged 908,000 barrels per day. This is up 5.58% vs. the previous week and up 3% vs. last year. Total Ethanol production for the week was 6.356 million barrels. Corn used in last week’s production is estimated at 96.7 million bushels. This crop year’s cumulative corn used for ethanol production for this crop year is 583.53 million bushels. Corn use needs to average 96.3 million bushels per week to meet this crop year’s USDA estimate of 5 billion bushels. Stocks were 17.053 million barrels. This is up 1% vs. last week and up 6.36% vs. last year. Traders see weekly export sales, for release before the opening, near 2.2 million tonnes as compared with 1.344 million tonnes last week. November Rice finished up 0.19 at 16.45, 0.07 off the high and 0.07 up from the low.

Bron: CME