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Corn prices experienced a decline of 1 to 2.5 cents as of midday Wednesday. September 24 corn is now priced at $3.64 3/4, while December 24 corn is at $3.91 1/2, both showing decreases.
The USDA reported a private export sale of 165,735 metric tons of corn to Mexico and 100,000 metric tons to Colombia. Furthermore, Statistics Canada updated its corn production forecast for Canada to 15.23 million metric tons, exceeding expectations of 14.97 million metric tons, although slightly lower than last year’s total.
Additionally, the Weekly EIA report indicated ethanol production at 1.071 million barrels per day for the week ending August 23, down 27,000 bpd from the previous week, with stocks decreasing by 2,000 barrels to 23.572 million barrels.
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