CBOT Corn Down on Pro Farmer's Estimate

September corn on the CBOT dropped 5.6 cents to $3.35 per bushel in today's trading. The reasoning: On Friday, Pro Farmer estimated the 2007 U.S. corn crop at 13.109 billion bushels, with an average yield of 153.47 bushels per acre. This estimation topped the USDA's forecast of 13.054 billion bushels, with an average yield of 152.8 bushels per acre.

Today's Crop Progress Report: Crop ratings increased one percentage point from last week's rating of 58% for corn in good-to-excellent condition. This is a relief for bears after recent worries of excessive rains potentially damaging crop.

Let's take a look at the price ethanol producers paid today:

Verasun (VSE):
Aurora Plant (South Dakota): $3.16 per bushel
Fort Dodge Plant (Iowa): $3.08 per bushel
Charles City Plant (Iowa): $2.96 per bushel

US BioEnergy (USBE):
Platte Valley Plant (Nebraska): $3.20 per bushel
Woodbury Plant (Michigan): $3.36 per bushel
Ord Plant (Nebraska): $3.22 per bushel

Aventine (AVR)
Pekin Plant (Illinois): $3.11 per bushel

Hawkeye Renewables:
Iowa Falls Plant (Iowa): $3.05 per bushel
Fairbanks Plant (Iowa): $2.95 per bushel

Iroquois Bio-Energy:
Iroquois Plant (Indiana): $3.23 per bushel

Redfield Energy:
Redfield Plant (South Dakota): $3.07 per bushel

Glacial Lakes Energy:
Glacial Plant (South Dakota): $3.07 per bushel


 

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