The most active corn contract for March delivery rose 0.5 cents, or 0.11 percent, to settle at 4.4825 U.S. dollars per bushel. March wheat fell 10.25 cents, or 1.69 percent, to settle at 5.9525 dollars per bushel. March soybean gained 3.5 cents, or 0.29 percent, to settle at 12.2225 dollars per bushel.
CBOT grains were in thinning trade heading into the end of the month. Chicago-based research company AgResource sees CBOT consolidation as the trade sorts out South American weather and crop sizes.
U.S. ethanol production totaled 291 million gallons last week, up 51 million gallons from the previous week but down 4 percent from last year; U.S. ethanol stocks fell 65 million gallons to 1,019 million gallons; U.S. gasoline consumption was at 8.13 million barrels per day, down 4 percent from last year; and U.S. crude oil stocks went up one million barrels from the previous week but down 7 percent from last year.
It is drier from Parana Brazil southward. A month of dryness and the seven to eight days of extreme heat will be adverse to yield potential. Southern Brazil will hold in this hot and dry pattern into Feb. 15.
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