Grains are higher at midday:
Mar Corn +1 3/4 cents/bu (6.00)
Jan Soybeans + 17 1/4 cents/bu (13.25 1/4)
Mar Chi Wheat +10 1/4 cents/bu (8.09 1/4)
Currently:
Cdn $ +0.00495 (77.86 cents)
WTI Crude Oil +1.01/barrel (72.13)
Corn has broken the technical resistance at $6.00 and Soybeans at $13.00 as they find continued interest. The main cause of this rally can be attributed to the dry weather in South America.
The EIA Report was released today for the week ending December 17th. Crude oil stocks dropped 7.3 million barrels to 1020.0 million barrels. Ethanol stocks decreased 0.2 million barrels to 20.7 million barrels. Ethanol production had a major drop down 36 thousand barrels per day to 1,051 thousand barrels per day, however it is up from 976,000 barrels per day, the same week last year. Estimated marketing year corn use to date for the production of ethanol totals 1.578 billion bushels, up 66 million or 3.7% from the previous year's pace
Grain trading Holiday hours are listed below.