Ethanol Production Rises, U.S. Corn Back on the Rise

The CBOT December U.S. corn futures contract (ZCZ0) rose on October 15, closing at 403.75 cents per bushel, up 1.83%. It opened at 396.00 cents/bushel, with a high of 404.25 cents/bushel and a low of 393.50 cents/bushel, compared to the previous close of 396.50 cents/bushel. Volume was 231,000 lots traded and the open position was 750,000 lots. U.S. corn futures regained momentum to return to gains on improving feed market sentiment and rising ethanol production. International derivatives think tank analysts believe that the supply side, U.S. corn production continues to be lowered, ending stocks fell; Brazil's drought-prone weather; Ukraine's corn production estimates continue to be lowered; demand, feed market prospects are better; oil prices are more stable, ethanol production is still available; exports, U.S. corn export prospects are better, China's procurement positive. It is still recommended to hold shock thinking, the previous single continued to hold.