Corn futures saw a slight increase on Wednesday, with September contracts closing at $3.91 3/4, up 2 ½ cents. The national average Cash Corn price also rose by 2 ½ cents to $3.74 3/4.
During the week of July 25, weekly ethanol production was reported at 1.096 million barrels per day, an increase of 18,000 bpd from the previous week. Ethanol exports reached a 6-week high of 154,000 bpd, while stocks rose to 24.716 million barrels, up 272,000 barrels. Traders expect Thursday’s Export Sales report to show sales of 200,000 to 800,000 MT of 2024/25 corn.
A South Korean importer purchased 195,000 MT of corn and a Taiwan importer bought 65,000 MT from the U.S. Brazil’s corn crop for the 2025/26 season is estimated at 140.9 million metric tons, according to Datagro.
