Corn Futures Trading Higher

December Corn is trading at 345, up 4 1/4 cents/bushel. March Corn is trading at 353 3/4, up 4 cents/bushel. Corn futures are trading a little higher. Chatter about Southern Hemisphere weather is making the rounds. Corn used for ethanol production last week totaled 105.21 million bushels. The USDA reported on Wednesday the U.S. corn production was 15.226 billion bushels versus 15.057 billion bushels on the report last month. Ending stocks were 2.403 billion bushels compared with 2.320 billion bushels last month. Global ending stocks were 218.19 million tonnes versus 216.81 million tonnes a month ago. The USDA raised the corn yield nearly 2.0 bushels per acre. Feed use and exports remained the same. The USDA weekly corn export report is due out at 8:30 a.m. ET.