Corn futures showed modest gains on Wednesday, May 26, with contracts rising by up to 1.25 cents. The CmdtyView national average cash corn price increased by 1 cent, reaching $4.33 1/4 per bushel.
The U.S. Energy Information Administration (EIA) reported a significant drop in ethanol production for the week ending April 24, decreasing by 31,000 barrels per day to 1.009 million barrels per day, which is also 31,000 bpd lower than the same week last year. Ethanol stocks declined by 1.067 million barrels, totaling 25.881 million barrels, while refiner inputs fell by 4,000 bpd to 917,000 bpd, and exports rose by 79,000 bpd to 170,000 bpd.
In international trade, Taiwan secured 65,000 metric tons of corn from the U.S. in a recent tender.
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