Corn futures are experiencing modest gains, with the March 26 Corn at $4.29 1/2, up 1 cent, and the Cash Corn price rising 1 1/4 cents to $3.95 1/2. The USDA reported a private export sale of 130,480 metric tons of corn to unknown destinations, with weekly data set to be released on Thursday, where expectations are between 0.8 and 2.1 million metric tons for the week ending January 29.
Ethanol production for the week of January 30 decreased to 956,000 barrels per day, down 158,000 bpd from the previous week. Ethanol stocks fell by 264,000 barrels to 25.136 million. Meanwhile, a South Korean importer secured 65,000 metric tons of corn in a private tender on Tuesday.
