**Corn Prices and Trade Updates – July 27, 2023**
Corn prices are down 1 to 1.5 cents on Thursday, following a slight rebound on Wednesday when futures closed up 2.5 cents. The CmdtyView national average cash corn price increased by 2.5 cents to $3.74 3/4. The U.S. Department of Agriculture’s (USDA) Thursday morning Export Sales report is expected to reveal sales of 200,000 to 800,000 metric tons of 2024/25 corn for the week ending July 24.
In agriculture updates, weekly ethanol production rose to 1.096 million barrels per day, an increase of 18,000 bpd from the previous week, while stocks grew by 272,000 barrels, reaching a total of 24.716 million barrels. Ethanol exports hit a six-week high of 154,000 bpd, and refiner inputs were also up at 920,000 bpd. Meanwhile, Brazil’s corn crop for 2025/26 is projected at 140.9 million metric tons, according to Datagro.
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