Corn futures jump as ethanol production soars to record last week

In Washington, the Energy Information Agency reported that ethanol production last week reached a record of 982,000 barrels a day, up 12,000 barrels from the week before. In turn, the increased demand for ethanol is boosting corn prices, though strangely there is expectation of between 200 and 500 lots of delivery against the December corn contract, which indicates buyers can’t find better buyers in the market and instead are relying on offloading via futures.