Corn price post little movement following the latest round of USDA data.
Ethanol usage was raised +25 million bushels to 5.350 billion. Non-ethanol food, seed and industrial was raised +10 million bushels.
Corn ending stocks are lowered -35 million bushels from last month. The projected range for the season- average corn price received by producers was narrowed 10 cents on each end to $3.20 to $3.60 per bushel, with the midpoint unchanged at $3.40.
Production in both Argentina and Brazil was left "unchanged." Perhaps digested as somewhat bearish was the fact the USDA raised their corn export estimates for Ukraine and Canada.