Corn futures are up midday due to increased demand for ethanol, positive for corn market.

Corn futures are on the rise, up 5 to 7 cents at midday, with 78 deliveries against July futures. The national average Cash Corn price is up 6 1/4 cents at $3.98. The EIA report shows 1.076 million bpd of ethanol, down 5,000 bpd from the previous week, with stocks at 24.117 million barrels. Refiner inputs and ethanol exports have also increased. USDA’s Export Sales report is expected on Thursday, with traders eyeing sales of 0.4-1 MMT of corn. Grain Crushing data reveals a jump in corn used for ethanol production in May. Corn prices are up across the board.

Read more at Yahoo Finance: Corn Showing Midday Strength