Corn futures increased by 3 to 5 ¼ cents on Wednesday, with May corn closing at $4.67 1/4 and nearby cash corn rising to $4.25 3/4. The CmdtyView national average cash corn price also saw a rise of 4 3/4 cents, reaching $4.25 3/4.
The U.S. Environmental Protection Agency (EPA), led by Administrator Lee Zeldin, announced a waiver on Wednesday allowing E15 gasoline sales starting May 1, in line with previous seasonal practices. This decision coincides with the release of EIA data indicating ethanol production rose by 23,000 barrels per day to 1.116 million bpd, while ethanol stockpiles increased by 763,000 barrels to 27.17 million barrels.
In international trade, Taiwan importers secured 65,000 metric tons of U.S. corn earlier on Wednesday. Traders are now anticipating Thursday’s export sales data, forecasting between 0.7 and 1.5 million metric tons in old crop corn bookings for the week ending March 19.
