Corn futures rose by one to two cents on Wednesday, concluding the session with the nearby Cash Corn price reaching $3.96 1/4. The USDA reported a private export sale of 130,480 metric tons of corn to unknown destinations. Weekly sales data will be released on Thursday, with estimates between 0.8 and 2.1 million metric tons for the week ending January 29.
EIA data revealed a decrease in ethanol production to 956,000 barrels per day for the week ending January 30, down 158,000 bpd from the prior week. Ethanol stocks fell by 264,000 barrels to 25.136 million barrels, while exports increased by 59,000 bpd to 216,000 bpd. Additionally, a South Korean importer secured 65,000 metric tons of corn in a private tender on Tuesday.
