Corn Little Higher

Corn futures are steady to higher Thursday morning after Wednesday's move down. September Corn is trading at 370 3/4, up 3 cents and December Corn is trading at 381 1/4, up 3 cents. Market talk about U.S. weather and overall abundant global corn supplies has kept both buyers and sellers active. Some chatter about lower production in Europe has been a little supportive. Some estimates of European production are coming in near 63 million tons versus 65.8 million on the most recent USDA report and down from 75.0 million tons a year ago. Corn used in last week's ethanol production was estimated to be little over 101 million bushels.