Bearish ethanol production data pushes CBOT December corn near to 100-day moving average low

In Illinois, Reuters reports that bearish ethanol production data as well as technical selling pushed CBOT December corn futures to $3.74-1/4 per bushel on Wednesday, barely keeping above the next support level of $3.72, the low end of the 100-moving average. Even though ethanol production was the lowest since April last week, stocks still built up across the country and in turn weighed on futures prices. Stocks were last that high in March this year.